Wayfair Inc. (NYSE:W) Position Increased by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP increased its holdings in Wayfair Inc. (NYSE:W - Free Report) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,800,000 shares of the company's stock after acquiring an additional 1,400,000 shares during the quarter. Wayfair makes up 2.9% of Southpoint Capital Advisors LP's portfolio, making the stock its 15th biggest position. Southpoint Capital Advisors LP owned 2.23% of Wayfair worth $124,096,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of W. Assenagon Asset Management S.A. acquired a new stake in Wayfair during the fourth quarter valued at approximately $6,799,000. Ameritas Advisory Services LLC acquired a new stake in Wayfair during the fourth quarter valued at approximately $229,000. Nisa Investment Advisors LLC raised its stake in Wayfair by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company's stock valued at $1,982,000 after buying an additional 2,250 shares in the last quarter. SG Americas Securities LLC raised its stake in Wayfair by 277.4% during the fourth quarter. SG Americas Securities LLC now owns 12,591 shares of the company's stock valued at $558,000 after buying an additional 9,255 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Wayfair during the fourth quarter valued at approximately $220,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Price Performance

Shares of NYSE:W traded down $1.71 on Wednesday, reaching $36.43. 3,193,528 shares of the company traded hands, compared to its average volume of 4,731,540. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $65.25. The company's 50 day moving average is $31.47 and its 200-day moving average is $39.90. The stock has a market capitalization of $4.62 billion, a PE ratio of -9.06 and a beta of 2.93.

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

Insider Activity

In other news, insider Steven Conine sold 2,246 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total value of $89,862.46. Following the completion of the sale, the insider now owns 542,168 shares in the company, valued at $21,692,141.68. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Niraj Shah sold 2,258 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.01, for a total value of $90,342.58. Following the completion of the sale, the chief executive officer now owns 541,627 shares of the company's stock, valued at $21,670,496.27. The trade was a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,330 shares of company stock worth $4,767,406. Insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

W has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Wedbush upgraded Wayfair to a "hold" rating in a research report on Thursday, May 1st. Mizuho dropped their price target on Wayfair from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Guggenheim dropped their price target on Wayfair from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and a consensus target price of $43.83.

Wayfair 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.