Interval Partners LP Has $18.50 Million Position in Wayfair Inc. $W

Key Points

• Interval Partners LP dramatically increased its Wayfair stake by 1,581.2% in the fourth quarter, ending with 184,223 shares valued at about $18.5 million.
• Several other major hedge funds also hold large positions in Wayfair, and institutional investors collectively own 89.67% of the company’s stock.
• Wayfair reported quarterly revenue of $2.93 billion, topping expectations, while earnings per share matched estimates at $0.26; analysts currently rate the stock a Moderate Buy with an average target price of $99.68.

Interval Partners LP boosted its holdings in Wayfair Inc. (NYSE:W - Free Report) by 1,581.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,223 shares of the company's stock after purchasing an additional 173,265 shares during the quarter. Interval Partners LP owned about 0.14% of Wayfair worth $18,498,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Capital World Investors grew its position in Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company's stock valued at $1,351,237,000 after purchasing an additional 82,584 shares during the period. Vanguard Group Inc. grew its position in Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock valued at $967,426,000 after purchasing an additional 72,707 shares during the period. Renaissance Technologies LLC grew its position in Wayfair by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company's stock valued at $542,950,000 after purchasing an additional 180,558 shares during the period. Janus Henderson Group PLC grew its position in Wayfair by 4.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,570,475 shares of the company's stock valued at $358,514,000 after purchasing an additional 166,855 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company's stock valued at $283,724,000 after purchasing an additional 8,598 shares during the period. Institutional investors and hedge funds own 89.67% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on W. UBS Group reduced their price target on shares of Wayfair from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Truist Financial set a $99.00 price target on shares of Wayfair in a research report on Monday, June 8th. JPMorgan Chase & Co. reduced their price target on shares of Wayfair from $114.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, February 20th. Wedbush reduced their price target on shares of Wayfair from $100.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. Finally, Piper Sandler reissued an "overweight" rating and issued a $125.00 price target on shares of Wayfair in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $99.68.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,790 shares of Wayfair stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total transaction of $345,790.10. Following the sale, the insider directly owned 111,158 shares in the company, valued at $8,024,496.02. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of Wayfair stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value of $8,746,727.50. Following the sale, the director owned 436,212 shares in the company, valued at $33,806,430. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 463,785 shares of company stock worth $35,864,224. Corporate insiders own 18.44% of the company's stock.

Wayfair Trading Down 1.9%

Shares of NYSE:W opened at $81.62 on Thursday. The stock's fifty day simple moving average is $71.17 and its two-hundred day simple moving average is $84.94. Wayfair Inc. has a 1-year low of $47.21 and a 1-year high of $119.98. The stock has a market cap of $10.77 billion, a PE ratio of -34.88, a price-to-earnings-growth ratio of 4.37 and a beta of 3.02.

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

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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