Wayfair Inc. (NYSE:W) is Blueshift Asset Management LLC's 3rd Largest Position

Key Points

• Blueshift Asset Management LLC significantly increased its holdings in Wayfair Inc. by 1,754.2% during the first quarter, making it the firm's 3rd largest investment with approximately $3.76 million in value.
• Wayfair reported a quarterly earnings surprise with an EPS of $0.10, exceeding analysts' expectations and showing a year-over-year revenue increase of 0.0%.
• Insider trading activities saw significant sales from CEO Niraj Shah and another executive, resulting in a decrease of over 43% in their respective stock ownerships.

Blueshift Asset Management LLC grew its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 1,754.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,517 shares of the company's stock after purchasing an additional 111,179 shares during the period. Wayfair makes up approximately 1.5% of Blueshift Asset Management LLC's investment portfolio, making the stock its 3rd biggest position. Blueshift Asset Management LLC owned 0.09% of Wayfair worth $3,764,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in W. Southpoint Capital Advisors LP grew its position in shares of Wayfair by 100.0% during the fourth 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. Capital World Investors grew its position in Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after acquiring an additional 782,757 shares in the last quarter. Norges Bank purchased a new position in Wayfair in the fourth quarter worth about $31,472,000. Arrowstreet Capital Limited Partnership purchased a new position in Wayfair in the fourth quarter worth about $30,735,000. Finally, Renaissance Technologies LLC grew its position in Wayfair by 17.9% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Stock Down 0.2%

Shares of NYSE:W opened at $65.48 on Friday. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $68.50. The stock has a market cap of $8.40 billion, a P/E ratio of -22.98 and a beta of 2.97. The business's 50 day moving average is $52.00 and its 200 day moving average is $42.11.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 179,707 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total value of $9,448,994.06. Following the completion of the transaction, the chief executive officer owned 236,850 shares of the company's stock, valued at $12,453,573. The trade was a 43.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 180,943 shares of Wayfair stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the transaction, the insider directly owned 236,167 shares in the company, valued at $12,420,022.53. This represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 800,204 shares of company stock valued at $40,135,236 in the last three months. 21.91% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on W. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $25.00 price target on shares of Wayfair in a research report on Friday, April 25th. Zelman & Associates lifted their price target on Wayfair from $55.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. UBS Group lifted their price target on Wayfair from $55.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Jefferies Financial Group reiterated a "buy" rating on shares of Wayfair in a research report on Tuesday, July 1st. Finally, Wedbush upgraded Wayfair to a "hold" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Wayfair has an average rating of "Moderate Buy" and a consensus target price of $50.85.

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.

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