Penserra Capital Management LLC Cuts Holdings in Wayfair Inc. (NYSE:W)

Penserra Capital Management LLC lessened its stake in Wayfair Inc. (NYSE:W - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,458 shares of the company's stock after selling 8,988 shares during the period. Penserra Capital Management LLC owned about 0.09% of Wayfair worth $3,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in W. Capital World Investors grew its stake in Wayfair by 6.2% during the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after buying an additional 782,757 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after acquiring an additional 327,603 shares in the last quarter. Renaissance Technologies LLC grew its position in Wayfair by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock worth $169,952,000 after acquiring an additional 581,000 shares during the last quarter. Southpoint Capital Advisors LP increased its holdings in Wayfair by 100.0% during the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after purchasing an additional 1,400,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Wayfair by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company's stock valued at $68,584,000 after purchasing an additional 22,078 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on W. Argus upgraded Wayfair from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Monday, May 12th. Loop Capital restated a "sell" rating and issued a $35.00 price objective on shares of Wayfair in a research report on Wednesday, May 14th. TD Cowen upgraded shares of Wayfair from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. BMO Capital Markets set a $38.00 price target on shares of Wayfair in a report on Friday, May 2nd. Finally, Mizuho reduced their price objective on Wayfair from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Wayfair has an average rating of "Moderate Buy" and a consensus target price of $46.72.

Wayfair Trading Up 2.7%

Shares of NYSE:W traded up $1.51 during trading on Wednesday, reaching $56.60. The company had a trading volume of 3,417,585 shares, compared to its average volume of 4,863,758. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $58.42. The stock has a market capitalization of $7.26 billion, a P/E ratio of -19.86 and a beta of 2.97. The company has a fifty day moving average of $43.46 and a two-hundred day moving average of $40.30.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.71 billion. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) EPS. As a group, equities research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Activity

In other news, insider Steven Conine sold 7,094 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total value of $391,659.74. Following the transaction, the insider owned 229,073 shares in the company, valued at approximately $12,647,120.33. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 7,713 shares of Wayfair stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $55.21, for a total value of $425,834.73. Following the completion of the sale, the chief executive officer owned 229,137 shares in the company, valued at approximately $12,650,653.77. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 666,874 shares of company stock valued at $32,647,157. Insiders own 21.91% of the company's stock.

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.