Y Intercept Hong Kong Ltd Acquires 66,830 Shares of Wayfair Inc. $W

Key Points

• Y Intercept Hong Kong Ltd increased its Wayfair stake by 421.8% in the fourth quarter, buying 66,830 additional shares and bringing its total holdings to 82,673 shares valued at about $8.3 million.
• Wayfair reported Q1 earnings of $0.26 per share, matching estimates, on revenue of $2.93 billion, which was above expectations and up 7.4% year over year.
• Despite the earnings beat, analysts have been trimming price targets; the stock has a Moderate Buy consensus with an average price target of $99.68, while Wayfair shares recently traded at $77.37.

Y Intercept Hong Kong Ltd boosted its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 421.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,673 shares of the company's stock after acquiring an additional 66,830 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.06% of Wayfair worth $8,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in Wayfair by 0.6% during the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company's stock valued at $1,351,237,000 after purchasing an additional 82,584 shares during the last quarter. Vanguard Group Inc. grew its holdings in Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock valued at $967,426,000 after purchasing an additional 72,707 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Wayfair by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company's stock valued at $542,950,000 after purchasing an additional 180,558 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Wayfair by 826.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company's stock valued at $251,648,000 after purchasing an additional 2,512,854 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Wayfair by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 1,903,219 shares of the company's stock valued at $191,145,000 after purchasing an additional 185,897 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,790 shares of the firm's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total value of $345,790.10. Following the sale, the insider owned 111,158 shares in the company, valued at approximately $8,024,496.02. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the sale, the chief executive officer owned 429,137 shares in the company, valued at approximately $33,738,750.94. The trade was a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 463,785 shares of company stock worth $35,864,224. Insiders own 18.44% of the company's stock.

Wayfair Trading Down 0.4%

Shares of Wayfair stock opened at $77.37 on Friday. The company's fifty day simple moving average is $70.55 and its 200-day simple moving average is $85.69. The company has a market cap of $10.21 billion, a price-to-earnings ratio of -33.06, a PEG ratio of 4.08 and a beta of 3.02. Wayfair Inc. has a 1 year low of $45.46 and a 1 year high of $119.98.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. Wayfair's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. As a group, research analysts forecast that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on W. Citigroup lowered 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. Mizuho lowered their price target on Wayfair from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. TD Cowen lowered their price target on Wayfair from $88.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on Wayfair from $114.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, February 20th. Finally, Needham & Company LLC lowered their price target on Wayfair from $125.00 to $83.00 and set a "buy" rating on the stock in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.68.

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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