Sandia Investment Management LP Cuts Stake in Waystar Holding Corp. (NASDAQ:WAY)

Sandia Investment Management LP cut its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 82.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the company's stock after selling 16,500 shares during the period. Sandia Investment Management LP's holdings in Waystar were worth $128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Waystar in the fourth quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC bought a new position in Waystar in the 4th quarter valued at approximately $48,000. Gen Wealth Partners Inc purchased a new stake in Waystar during the 4th quarter valued at $92,000. RiverPark Advisors LLC increased its holdings in shares of Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after purchasing an additional 710 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Waystar in the fourth quarter worth $237,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WAY shares. Jefferies Financial Group started coverage on Waystar in a report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target on the stock. Canaccord Genuity Group dropped their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays decreased their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group upped their price objective on Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Truist Financial set a $50.00 target price on Waystar and gave the company a "buy" rating in a research report on Wednesday, May 7th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $40.50.

Waystar Trading Down 1.5%

Waystar stock traded down $0.60 during trading on Thursday, hitting $38.71. The company had a trading volume of 440,521 shares, compared to its average volume of 1,435,856. The stock has a market cap of $6.70 billion and a price-to-earnings ratio of 429.86. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The company's 50 day simple moving average is $37.84 and its 200-day simple moving average is $37.10.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Activity

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the sale, the chief marketing officer now directly owns 43,478 shares in the company, valued at approximately $1,832,597.70. The trade was a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul G. Moskowitz sold 451,837 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $37.39, for a total transaction of $16,894,185.43. Following the transaction, the director now directly owns 18,055,049 shares in the company, valued at approximately $675,078,282.11. This represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,662,302 shares of company stock valued at $837,346,766. Insiders own 4.10% of the company's stock.

Waystar Profile

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.