Contour Asset Management LLC Purchases 131,455 Shares of Wayfair Inc. (NYSE:W)

Contour Asset Management LLC lifted its position in Wayfair Inc. (NYSE:W - Free Report) by 18.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 835,455 shares of the company's stock after purchasing an additional 131,455 shares during the period. Wayfair comprises approximately 1.1% of Contour Asset Management LLC's portfolio, making the stock its 24th biggest holding. Contour Asset Management LLC owned about 0.67% of Wayfair worth $37,027,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. J.Safra Asset Management Corp lifted its holdings in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. GAMMA Investing LLC lifted its stake in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after acquiring an additional 281 shares during the period. Jones Financial Companies Lllp lifted its stake in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after acquiring an additional 502 shares during the period. Arizona State Retirement System boosted its holdings in shares of Wayfair by 2.4% during the 4th quarter. Arizona State Retirement System now owns 26,951 shares of the company's stock valued at $1,194,000 after acquiring an additional 624 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Wayfair by 5.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock worth $555,000 after acquiring an additional 690 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares of the company's stock, valued at $25,901,852.09. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,915 shares of company stock worth $3,389,028 over the last 90 days. Corporate insiders own 21.91% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial set a $40.00 target price on shares of Wayfair in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Wayfair in a research note on Thursday, May 1st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $25.00 price objective on shares of Wayfair in a report on Friday, April 25th. UBS Group lowered their target price on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Citigroup boosted their price target on Wayfair from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Fourteen equities research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.25.

Wayfair Stock Performance

W traded down $0.91 during trading on Friday, reaching $32.72. 5,804,053 shares of the company traded hands, compared to its average volume of 4,664,575. The company has a market cap of $4.15 billion, a P/E ratio of -8.14 and a beta of 2.93. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $76.18. The firm has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $40.18.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. The business's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.32) earnings per share. As a group, sell-side analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal 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.