Semanteon Capital Management LP Takes Position in Wayfair Inc. (NYSE:W)

Semanteon Capital Management LP purchased a new stake in Wayfair Inc. (NYSE:W) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,070 shares of the company’s stock, valued at approximately $1,177,000.

Several other hedge funds also recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of Wayfair by 69.6% in the third quarter. CWM LLC now owns 3,295 shares of the company’s stock worth $200,000 after acquiring an additional 1,352 shares during the period. AE Wealth Management LLC acquired a new position in shares of Wayfair in the third quarter worth about $521,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Wayfair in the third quarter worth about $135,000. Commonwealth Equity Services LLC raised its position in shares of Wayfair by 5.5% in the third quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company’s stock worth $622,000 after acquiring an additional 537 shares during the period. Finally, Raymond James & Associates raised its position in shares of Wayfair by 9.3% in the third quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock worth $347,000 after acquiring an additional 486 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jon Blotner sold 3,492 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the transaction, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares in the company, valued at approximately $6,964,665.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 3,492 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares in the company, valued at $1,616,820.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,808 shares of company stock valued at $5,445,222. Company insiders own 26.81% of the company’s stock.

Wayfair Price Performance

Shares of NYSE:W traded down $1.97 during mid-day trading on Thursday, reaching $50.95. 3,936,067 shares of the company were exchanged, compared to its average volume of 4,292,813. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -7.81 and a beta of 3.29. The firm’s 50-day simple moving average is $59.59 and its 200 day simple moving average is $55.04. Wayfair Inc. has a 1 year low of $29.51 and a 1 year high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. On average, research analysts forecast that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

W has been the subject of several research analyst reports. Evercore ISI upgraded shares of Wayfair from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Piper Sandler restated an “overweight” rating and set a $88.00 price target (down previously from $93.00) on shares of Wayfair in a research report on Friday, February 23rd. TD Cowen upped their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday. BMO Capital Markets initiated coverage on shares of Wayfair in a research report on Tuesday, January 9th. They set a “market perform” rating and a $57.00 price target for the company. Finally, Citigroup upped their price target on shares of Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.21.

About Wayfair

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.