Renaissance Technologies LLC Buys 675,271 Shares of Wayfair Inc. (NYSE:W)

Renaissance Technologies LLC boosted its position in shares of Wayfair Inc. (NYSE:W) by 28.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,086,569 shares of the company’s stock after purchasing an additional 675,271 shares during the quarter. Renaissance Technologies LLC’s holdings in Wayfair were worth $162,755,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Wayfair by 8.7% during the 4th 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 in the last quarter. Norges Bank bought a new position in Wayfair in the fourth quarter valued at approximately $47,374,000. Kodai Capital Management LP acquired a new position in shares of Wayfair in the fourth quarter valued at approximately $23,552,000. Vanguard Group Inc. boosted its holdings in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after buying an additional 363,948 shares during the period. Finally, Mesirow Institutional Investment Management Inc. bought a new stake in shares of Wayfair during the first quarter worth $13,690,000. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Wedbush decreased their price objective on Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Guggenheim decreased their target price on shares of Wayfair from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Gordon Haskett cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $65.63.

Insider Buying and Selling

In related news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the sale, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wayfair news, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 4,395 shares of Wayfair stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now directly owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders have sold 40,102 shares of company stock valued at $2,076,659 over the last 90 days. 26.81% of the stock is owned by corporate insiders.

Wayfair Price Performance

W opened at $47.35 on Monday. The company has a market capitalization of $5.85 billion, a PE ratio of -8.83 and a beta of 3.40. The business has a fifty day simple moving average of $46.78 and a 200 day simple moving average of $55.11. Wayfair Inc. has a 1 year low of $38.02 and a 1 year high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the company posted ($1.27) earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

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.