Benchstone Capital Management LP Buys New Stake in Wayfair Inc. (NYSE:W)

Benchstone Capital Management LP purchased a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 364,372 shares of the company's stock, valued at approximately $16,149,000. Benchstone Capital Management LP owned approximately 0.29% of Wayfair as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. J.Safra Asset Management Corp increased its position in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after buying an additional 502 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after buying an additional 281 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Wayfair during the fourth quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC purchased a new stake in Wayfair in the 4th quarter worth approximately $45,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now owns 559,073 shares of the company's stock, valued at approximately $25,901,852.09. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now 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. In the last three months, insiders sold 92,863 shares of company stock valued at $3,393,929. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on W. UBS Group dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Piper Sandler set a $58.00 target price on Wayfair and gave the stock an "overweight" rating in a report on Friday, February 21st. Guggenheim cut their price target on shares of Wayfair from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Friday. Stifel Nicolaus decreased their price objective on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Bank of America dropped their price objective on shares of Wayfair from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.79.

Wayfair Stock Up 8.1 %

Shares of NYSE W opened at $33.76 on Friday. The stock's 50 day moving average price is $31.32 and its two-hundred day moving average price is $40.75. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $76.18. The stock has a market capitalization of $4.28 billion, a P/E ratio of -8.40 and a beta of 2.93.

Wayfair (NYSE:W - Get Free Report) last announced 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 firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the business earned ($0.32) earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

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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