Arrowstreet Capital Limited Partnership Takes $30.74 Million Position in Wayfair Inc. (NYSE:W)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Wayfair Inc. (NYSE:W - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 693,468 shares of the company's stock, valued at approximately $30,735,000. Arrowstreet Capital Limited Partnership owned 0.55% of Wayfair at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in W. Vanguard Group Inc. lifted its position in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after purchasing an additional 327,603 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock valued at $273,887,000 after purchasing an additional 740,641 shares during the period. Geode Capital Management LLC raised its holdings in shares of Wayfair by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company's stock valued at $85,690,000 after buying an additional 35,268 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company's stock worth $61,676,000 after buying an additional 201,157 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Wayfair by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company's stock worth $44,733,000 after buying an additional 35,057 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 5,754 shares of Wayfair stock in a transaction on Monday, January 6th. The stock was sold at an average price of $47.06, for a total transaction of $270,783.24. Following the completion of the sale, the chief financial officer now owns 124,210 shares of the company's stock, valued at approximately $5,845,322.60. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the sale, the chief technology officer now directly owns 111,128 shares of the company's stock, valued at $3,547,205.76. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,388 shares of company stock valued at $5,930,556. Company insiders own 26.81% of the company's stock.

Analyst Ratings Changes

W has been the topic of several recent analyst reports. StockNews.com raised Wayfair from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Wayfair in a research report on Monday, March 10th. Stifel Nicolaus dropped their price target on shares of Wayfair from $47.00 to $46.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Finally, Citigroup cut shares of Wayfair from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $58.00 to $28.00 in a report on Friday. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.81.

Wayfair Stock Up 3.4 %

Shares of Wayfair stock traded up $0.86 during trading on Friday, hitting $25.95. The stock had a trading volume of 19,467,584 shares, compared to its average volume of 4,467,898. The company has a market capitalization of $3.29 billion, a PE ratio of -6.46 and a beta of 3.72. Wayfair Inc. has a 1 year low of $20.42 and a 1 year high of $76.18. The stock has a 50 day simple moving average of $39.95 and a 200 day simple moving average of $44.87.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities analysts expect that Wayfair Inc. will post -2.54 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.