Night Squared LP Has $4.22 Million Holdings in Wayfair Inc. $W

Key Points

• Night Squared LP reduced its Wayfair stake by 30.4% in the fourth quarter, selling 18,349 shares and leaving it with 42,067 shares valued at about $4.22 million.
• Wayfair continues to draw heavy institutional interest, with 89.67% of shares owned by institutions and hedge funds; several large holders like Vanguard, Capital World Investors, and Renaissance Technologies also increased positions.
• Analysts remain cautiously positive: Wayfair has a Moderate Buy consensus rating with an average target price of $99.68, while the stock most recently traded at $83.39 after reporting Q1 revenue growth of 7.4% year over year.

Night Squared LP cut its stake in Wayfair Inc. (NYSE:W - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,067 shares of the company's stock after selling 18,349 shares during the period. Night Squared LP's holdings in Wayfair were worth $4,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Capital World Investors raised its holdings in shares of Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company's stock worth $1,351,237,000 after buying an additional 82,584 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock worth $967,426,000 after buying an additional 72,707 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Wayfair by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company's stock worth $542,950,000 after buying an additional 180,558 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company's stock worth $283,724,000 after buying an additional 8,598 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Wayfair by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 1,903,219 shares of the company's stock worth $191,145,000 after buying an additional 185,897 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on W shares. UBS Group dropped their target price on Wayfair from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 1st. Wedbush dropped their price target on Wayfair from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Royal Bank Of Canada dropped their price target on Wayfair from $92.00 to $76.00 and set a "sector perform" rating for the company in a report on Thursday, April 30th. Needham & Company LLC dropped their price target on Wayfair from $125.00 to $83.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Mizuho dropped their price target on Wayfair from $110.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, May 8th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.68.

Wayfair Price Performance

W stock opened at $83.39 on Wednesday. The business has a fifty day moving average price of $70.97 and a 200 day moving average price of $85.16. Wayfair Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $119.98. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of -35.63, a P/E/G ratio of 4.36 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $2.89 billion. During the same period last year, the firm posted $0.10 EPS. The business's revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,790 shares of the stock in a transaction 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 directly owned 111,158 shares in the company, valued at approximately $8,024,496.02. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the completion of the transaction, 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. 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. In the last ninety days, insiders have sold 463,785 shares of company stock worth $35,864,224. Insiders own 18.44% of the company's stock.

About Wayfair

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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