AQR Capital Management LLC Cuts Stock Position in Wayfair Inc. (NYSE:W)

AQR Capital Management LLC decreased its holdings in Wayfair Inc. (NYSE:W - Free Report) by 51.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 247,601 shares of the company's stock after selling 264,195 shares during the quarter. AQR Capital Management LLC owned 0.20% of Wayfair worth $10,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Northern Trust Corp increased its holdings in Wayfair by 11.4% during the 4th quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after purchasing an additional 47,326 shares during the period. III Capital Management increased its position in shares of Wayfair by 54.5% in the 4th quarter. III Capital Management now owns 38,000 shares of the company's stock valued at $1,684,000 after purchasing an additional 13,400 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Wayfair in the fourth quarter valued at $745,000. Susquehanna Fundamental Investments LLC acquired a new stake in Wayfair in the fourth quarter valued at $4,262,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Wayfair during the 4th quarter worth about $1,281,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Stock Performance

Shares of W stock opened at $30.91 on Tuesday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18. The stock has a fifty day moving average price of $31.08 and a 200 day moving average price of $40.52. The stock has a market cap of $3.92 billion, a PE ratio of -7.69 and a beta of 2.93.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the business earned ($0.32) EPS. Wayfair's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Fiona Tan sold 23,835 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now directly owns 111,128 shares of the company's stock, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,915 shares of company stock worth $3,389,028 over the last three months. 21.91% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on W. Jefferies Financial Group raised Wayfair from a "hold" rating to a "buy" rating and raised their target price for the stock from $45.00 to $47.00 in a research report on Friday, March 7th. Loop Capital lowered their target price on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating for the company in a report on Friday, February 21st. Mizuho cut their price target on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their target price on Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.79.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.

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