100,000 Shares in Wayfair Inc. (NYSE:W) Bought by Honeycomb Asset Management LP

Honeycomb Asset Management LP bought a new position in shares of Wayfair Inc. (NYSE:W) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the company’s stock, valued at approximately $6,170,000. Wayfair comprises about 1.5% of Honeycomb Asset Management LP’s holdings, making the stock its 23rd largest position. Honeycomb Asset Management LP owned 0.08% of Wayfair at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of W. Capital World Investors raised its position in shares of Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares during the period. Vanguard Group Inc. grew its stake in shares of Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the period. Atreides Management LP boosted its position in shares of Wayfair by 1.8% in the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock worth $58,826,000 after purchasing an additional 16,932 shares during the period. Norges Bank purchased a new position in shares of Wayfair in the fourth quarter worth $47,374,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Wayfair by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock valued at $41,595,000 after purchasing an additional 39,545 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $64.58, for a total value of $645,800.00. Following the sale, the chief executive officer now owns 239,137 shares of the company’s stock, valued at approximately $15,443,467.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $64.58, for a total value of $645,800.00. Following the sale, the chief executive officer now owns 239,137 shares of the company’s stock, valued at approximately $15,443,467.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,664 shares of company stock valued at $4,224,393. Corporate insiders own 23.50% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE:W traded up $1.00 during midday trading on Tuesday, reaching $58.05. The company had a trading volume of 4,234,800 shares, compared to its average volume of 4,357,143. Wayfair Inc. has a 1-year low of $38.37 and a 1-year high of $90.71. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of -10.83 and a beta of 3.39. The company has a fifty day simple moving average of $60.79 and a two-hundred day simple moving average of $58.82.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Analysts expect that Wayfair Inc. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

W has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Loop Capital raised their price objective on Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Argus upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Thursday, May 16th. Truist Financial boosted their price objective on Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Mizuho began coverage on Wayfair in a research note on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.83.

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.