Atreides Management LP Boosts Holdings in Wayfair Inc. $W

Atreides Management LP increased its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 64.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,430,997 shares of the company's stock after purchasing an additional 560,133 shares during the period. Wayfair accounts for 2.2% of Atreides Management LP's portfolio, making the stock its 13th largest holding. Atreides Management LP owned 1.08% of Wayfair worth $107,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of W. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wayfair by 29.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company's stock valued at $2,147,000 after buying an additional 15,084 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Wayfair by 30.4% in the second quarter. Prudential Financial Inc. now owns 7,328 shares of the company's stock worth $375,000 after acquiring an additional 1,710 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Wayfair by 12.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company's stock valued at $126,000 after buying an additional 270 shares in the last quarter. M&T Bank Corp acquired a new stake in Wayfair in the 2nd quarter worth about $262,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after purchasing an additional 653 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

Wayfair Trading Up 0.1%

Shares of NYSE W opened at $94.58 on Wednesday. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of -40.42, a price-to-earnings-growth ratio of 5.24 and a beta of 2.96. The business has a 50 day simple moving average of $82.70 and a 200-day simple moving average of $82.71. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.26. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, equities analysts predict that Wayfair Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the transaction, the insider directly owned 117,344 shares of the company's stock, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 18.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on W shares. Wells Fargo & Company decreased their target price on shares of Wayfair from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Citigroup reduced their price target on shares of Wayfair from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada decreased their target price on shares of Wayfair from $92.00 to $76.00 and set a "sector perform" rating for the company in a research note on Thursday, April 30th. TD Cowen reduced their price target on Wayfair from $88.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on Wayfair from $105.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.46.

Wayfair Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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