Quarry LP Raises Stake in Wayfair Inc. (NYSE:W)

Quarry LP raised its holdings in shares of Wayfair Inc. (NYSE:W) by 47.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,755 shares of the company’s stock after acquiring an additional 1,207 shares during the quarter. Quarry LP’s holdings in Wayfair were worth $211,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP acquired a new stake in shares of Wayfair during the third quarter worth about $78,652,000. Holocene Advisors LP grew its position in shares of Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after acquiring an additional 1,213,896 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares during the period. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Wayfair by 35.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after purchasing an additional 253,681 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 10.60 % decrease in their ownership of the stock. 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 6,055 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the transaction, the insider now owns 62,817 shares of the company’s stock, valued at $3,333,698.19. This represents a 8.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,868 shares of company stock valued at $3,272,548. Insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on W. Royal Bank of Canada reduced their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. UBS Group reduced their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets dropped their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Wedbush decreased their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Stock Down 0.8 %

Shares of W opened at $49.29 on Friday. The business’s 50 day moving average is $47.01 and its two-hundred day moving average is $49.43. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of -10.98 and a beta of 3.44. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm earned ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts expect that Wayfair Inc. will post -2.88 earnings per share for the current fiscal year.

Wayfair Company 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.