Readystate Asset Management LP Decreases Position in Wayfair Inc. (NYSE:W)

Readystate Asset Management LP lessened its holdings in Wayfair Inc. (NYSE:W - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,339 shares of the company's stock after selling 5,393 shares during the quarter. Readystate Asset Management LP's holdings in Wayfair were worth $1,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in 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 purchasing an additional 327,603 shares in the last quarter. Sterling Capital Management LLC boosted its position in Wayfair by 60.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after purchasing an additional 2,116 shares in the last quarter. LPL Financial LLC lifted its position in shares of Wayfair by 218.2% during the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock valued at $1,706,000 after buying an additional 26,390 shares in the last quarter. Norges Bank purchased a new position in shares of Wayfair during the 4th quarter valued at approximately $31,472,000. Finally, GAMMA Investing LLC lifted its position in shares of Wayfair by 5,850.4% during the 1st quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after buying an additional 41,538 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 60,000 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.03, for a total value of $3,361,800.00. Following the completion of the sale, the chief executive officer owned 169,137 shares in the company, valued at $9,476,746.11. This trade represents a 26.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 60,000 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.02, for a total transaction of $3,361,200.00. Following the completion of the sale, the insider owned 169,073 shares of the company's stock, valued at approximately $9,471,469.46. The trade was a 26.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 800,731 shares of company stock worth $40,152,384 over the last 90 days. 21.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

W has been the topic of a number of recent analyst reports. Guggenheim decreased their target price on Wayfair from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Citigroup raised their price objective on Wayfair from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. The Goldman Sachs Group decreased their price objective on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Bank of America raised their price objective on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Finally, Zelman & Associates raised their price objective on Wayfair from $55.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.38.

Wayfair Stock Up 3.1%

W traded up $1.95 during trading on Friday, hitting $65.02. 2,406,258 shares of the stock were exchanged, compared to its average volume of 5,105,699. The firm has a market capitalization of $8.34 billion, a P/E ratio of -22.81 and a beta of 2.97. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $65.27. The stock has a fifty day moving average price of $49.16 and a two-hundred day moving average price of $41.38.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. The company's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. Analysts predict that Wayfair Inc. will post -2.54 EPS 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.