Polar Asset Management Partners Inc. Grows Position in Wayfair Inc. (NYSE:W)

Polar Asset Management Partners Inc. increased its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 142.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,653 shares of the company's stock after purchasing an additional 89,053 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.12% of Wayfair worth $6,721,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. J.Safra Asset Management Corp lifted its holdings in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. True Wealth Design LLC increased its position in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after buying an additional 381 shares during the last quarter. Jones Financial Companies Lllp increased its position in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after buying an additional 502 shares during the last quarter. Arizona State Retirement System grew its position in shares of Wayfair by 2.4% in the fourth quarter. Arizona State Retirement System now owns 26,951 shares of the company's stock valued at $1,194,000 after purchasing an additional 624 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Wayfair by 5.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock valued at $555,000 after purchasing an additional 690 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on W shares. Stifel Nicolaus dropped their price objective on Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Zelman & Associates initiated coverage on Wayfair in a research note on Thursday, May 15th. They issued an "outperform" rating for the company. Piper Sandler set a $58.00 price target on Wayfair and gave the company an "overweight" rating in a report on Friday, February 21st. Truist Financial set a $40.00 target price on Wayfair in a report on Friday, May 2nd. Finally, The Goldman Sachs Group cut their price target on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wayfair has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 73,095 shares of Wayfair stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.40, for a total transaction of $2,953,038.00. Following the completion of the transaction, the insider now owns 469,073 shares in the company, valued at approximately $18,950,549.20. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 72,490 shares of Wayfair stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.39, for a total transaction of $2,927,871.10. Following the transaction, the chief executive officer now owns 469,137 shares of the company's stock, valued at approximately $18,948,443.43. The trade was a 13.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 242,915 shares of company stock valued at $9,258,415 in the last ninety days. Insiders own 21.91% of the company's stock.

Wayfair Trading Up 3.4%

Shares of Wayfair stock traded up $1.39 during trading hours on Wednesday, reaching $42.43. The stock had a trading volume of 5,392,862 shares, compared to its average volume of 4,752,022. The stock's 50 day moving average is $31.96 and its 200 day moving average is $39.79. The firm has a market capitalization of $5.44 billion, a PE ratio of -10.55 and a beta of 2.93. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $62.43.

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

Wayfair Company Profile

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.