AXQ Capital LP Buys New Position in Wayfair Inc. $W

Key Points

• AXQ Capital LP initiated a new position in Wayfair during the fourth quarter, buying 13,918 shares worth about $1.4 million.
• Institutional interest in Wayfair remains strong, with large holders like Norges Bank also taking new stakes and institutions owning 89.67% of the company.
• Wayfair reported Q1 earnings in line with estimates at $0.26 EPS, while revenue rose 7.4% year over year to $2.93 billion; analysts currently rate the stock Moderate Buy with a consensus price target of $99.89.

AXQ Capital LP bought a new stake in Wayfair Inc. (NYSE:W - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,918 shares of the company's stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. grew its position in Wayfair by 1,642.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,212 shares of the company's stock valued at $2,029,000 after buying an additional 19,052 shares in the last quarter. Norges Bank acquired a new stake in Wayfair in the 4th quarter valued at about $117,973,000. Hillsdale Investment Management Inc. lifted its holdings in Wayfair by 4.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 41,800 shares of the company's stock valued at $4,197,000 after acquiring an additional 1,700 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Wayfair by 27.9% in the 4th quarter. Rothschild Investment LLC now owns 1,401 shares of the company's stock valued at $141,000 after acquiring an additional 306 shares during the last quarter. Finally, Baker Avenue Asset Management LP acquired a new stake in Wayfair in the 4th quarter valued at about $1,042,000. Institutional investors own 89.67% of the company's stock.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,790 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total value of $345,790.10. Following the transaction, the insider owned 111,158 shares in the company, valued at approximately $8,024,496.02. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total value of $8,823,243.87. Following the completion of the transaction, the chief executive officer owned 435,274 shares in the company, valued at $33,729,382.26. This represents a 20.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 463,785 shares of company stock worth $35,864,224. Insiders own 18.44% of the company's stock.

Wayfair Price Performance

NYSE W opened at $72.79 on Tuesday. The company has a 50 day simple moving average of $71.02 and a 200-day simple moving average of $87.50. Wayfair Inc. has a 52-week low of $39.90 and a 52-week high of $119.98. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of -31.10, a price-to-earnings-growth ratio of 3.80 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Wayfair Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on W shares. The Goldman Sachs Group set a $79.00 price target on shares of Wayfair in a report on Friday, May 1st. Needham & Company LLC cut their price target on shares of Wayfair from $125.00 to $83.00 and set a "buy" rating for the company in a report on Friday, May 1st. Wells Fargo & Company cut their price target on shares of Wayfair from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, May 1st. TD Cowen reduced their price objective on shares of Wayfair from $88.00 to $75.00 and set a "hold" rating for the company in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $110.00 price objective on shares of Wayfair in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

Wayfair Company 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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