Atreides Management LP Purchases 16,474 Shares of Wayfair Inc. $W

Atreides Management LP raised its position in Wayfair Inc. (NYSE:W) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 870,864 shares of the company’s stock after buying an additional 16,474 shares during the quarter. Wayfair accounts for 1.1% of Atreides Management LP’s holdings, making the stock its 21st largest position. Atreides Management LP’s holdings in Wayfair were worth $87,443,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Covenant Asset Management LLC bought a new position in Wayfair in the 4th quarter valued at $4,403,000. Capital World Investors boosted its holdings in Wayfair by 4.1% in the 3rd quarter. Capital World Investors now owns 13,374,574 shares of the company’s stock valued at $1,194,750,000 after purchasing an additional 521,240 shares during the period. WINTON GROUP Ltd bought a new position in Wayfair in the 3rd quarter valued at $2,635,000. Quantbot Technologies LP bought a new position in Wayfair in the 3rd quarter valued at $1,958,000. Finally, North Dakota State Investment Board bought a new position in Wayfair in the 4th quarter valued at $3,636,000. 89.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on W shares. Citigroup cut their price target on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Piper Sandler reissued an “overweight” rating and issued a $125.00 price target on shares of Wayfair in a report on Friday, February 20th. TD Cowen dropped their price objective on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Canaccord Genuity Group dropped their price objective on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $99.68.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 6,137 shares of Wayfair stock in a transaction on Friday, April 24th. The shares were sold at an average price of $78.62, for a total value of $482,490.94. Following the transaction, the chief executive officer owned 429,137 shares in the company, valued at $33,738,750.94. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 7,139 shares of Wayfair stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.55, for a total transaction of $560,768.45. Following the completion of the transaction, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. The trade was a 1.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 463,785 shares of company stock valued at $35,864,224. Insiders own 18.44% of the company’s stock.

Wayfair Stock Performance

NYSE W opened at $81.62 on Thursday. Wayfair Inc. has a 52-week low of $47.21 and a 52-week high of $119.98. The company has a market capitalization of $10.77 billion, a P/E ratio of -34.88, a P/E/G ratio of 4.37 and a beta of 3.02. The company has a fifty day moving average of $71.17 and a 200-day moving average of $84.94.

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

Wayfair Company 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.