Wayfair Inc. $W Shares Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP boosted its Wayfair stake by 242.7% in the first quarter, ending with 41,874 shares valued at about $3.15 million.
• Wayfair reported Q1 EPS of $0.26, matching estimates, while revenue came in at $2.93 billion, above expectations and up 7.4% year over year.
• Despite the upbeat quarter, analyst sentiment remains mixed: the stock has an average rating of “Moderate Buy” with an average price target of $100.36, while one insider recently sold shares under a 10b5-1 plan.

Entropy Technologies LP increased its stake in Wayfair Inc. (NYSE:W - Free Report) by 242.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,874 shares of the company's stock after purchasing an additional 29,656 shares during the period. Entropy Technologies LP's holdings in Wayfair were worth $3,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LLP bought a new stake in Wayfair in the first quarter valued at $376,000. Inceptionr LLC bought a new position in shares of Wayfair during the first quarter worth about $244,000. State of Wyoming increased its holdings in shares of Wayfair by 47.6% in the 1st quarter. State of Wyoming now owns 5,498 shares of the company's stock worth $414,000 after acquiring an additional 1,774 shares during the period. NewEdge Wealth LLC acquired a new stake in shares of Wayfair in the 1st quarter worth about $228,000. Finally, Dimensional Fund Advisors LP lifted its position in Wayfair by 46.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company's stock valued at $77,923,000 after purchasing an additional 328,358 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Trading Up 1.6%

W stock opened at $84.01 on Friday. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of -35.90, a price-to-earnings-growth ratio of 4.66 and a beta of 2.96. The firm's 50-day moving average is $81.25 and its two-hundred day moving average is $83.09.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.89 billion. During the same period last year, the firm posted $0.10 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. On average, equities research analysts predict that Wayfair Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 18.44% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Mizuho reduced their target price on shares of Wayfair from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada dropped their price target on shares of Wayfair from $92.00 to $76.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 30th. Citigroup cut their price target on Wayfair from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. TD Cowen decreased their price objective on Wayfair from $88.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, April 30th. Finally, Benchmark began coverage on Wayfair in a research report on Tuesday, July 7th. They issued a "hold" rating on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.36.

Wayfair Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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