Wayfair Inc. $W Stock Holdings Decreased by K2 Principal Fund L.P.

Key Points

• K2 Principal Fund L.P. reduced its stake in Wayfair Inc. by 48.0% in the first quarter, owning 8,832 shares valued at $283,000 after selling 8,168 shares.
• Several hedge funds have increased their investments in Wayfair, with Caitong International Asset Management boosting its stake by 15,266.7%, now holding 4,610 shares valued at $148,000.
• Wayfair's stock has received multiple upgrades from analysts, with the consensus rating moving to "Moderate Buy" and a price target of $69.19 following a quarterly earnings report that surpassed expectations.

K2 Principal Fund L.P. decreased its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 48.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,832 shares of the company's stock after selling 8,168 shares during the quarter. K2 Principal Fund L.P.'s holdings in Wayfair were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of W. Northern Trust Corp boosted its holdings in shares of Wayfair by 11.4% in the 4th quarter. Northern Trust Corp now owns 463,457 shares of the company's stock valued at $20,540,000 after acquiring an additional 47,326 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Wayfair by 10.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 235,886 shares of the company's stock valued at $10,454,000 after purchasing an additional 23,000 shares during the period. Eisler Capital Management Ltd. acquired a new position in shares of Wayfair in the 4th quarter valued at $2,350,000. Graham Capital Management L.P. acquired a new position in shares of Wayfair in the 4th quarter valued at $1,864,000. Finally, J. Goldman & Co LP lifted its stake in shares of Wayfair by 172.1% in the 4th quarter. J. Goldman & Co LP now owns 21,366 shares of the company's stock valued at $947,000 after purchasing an additional 13,513 shares during the period. Institutional investors and hedge funds own 89.67% of the company's stock.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the transaction, the chief executive officer directly owned 459,137 shares in the company, valued at approximately $36,763,099.59. The trade was a 15.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 85,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the sale, the insider directly owned 459,073 shares of the company's stock, valued at $36,757,975.11. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,240,204 shares of company stock valued at $81,706,986 over the last ninety days. 21.91% of the stock is owned by corporate insiders.

Wayfair Trading Down 2.8%

Shares of NYSE:W traded down $2.48 during trading on Monday, hitting $87.13. 5,056,912 shares of the stock were exchanged, compared to its average volume of 4,408,760. The company has a fifty day moving average price of $68.57 and a two-hundred day moving average price of $47.72. The company has a market cap of $11.30 billion, a PE ratio of -36.30 and a beta of 2.95. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $90.47.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. Wayfair's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. Equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus set a $68.00 price target on shares of Wayfair and gave the stock a "hold" rating in a report on Tuesday, August 5th. Piper Sandler reissued an "overweight" rating and issued a $95.00 price target on shares of Wayfair in a report on Monday, August 4th. UBS Group lifted their target price on shares of Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Guggenheim reaffirmed a "buy" rating and set a $90.00 target price on shares of Wayfair in a research note on Wednesday, August 27th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $70.00 target price (up previously from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

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.