Bryce Point Capital LLC Makes New $505,000 Investment in Wayfair Inc. (NYSE:W)

Bryce Point Capital LLC bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,402 shares of the company's stock, valued at approximately $505,000.

A number of other large investors have also recently made changes to their positions in W. J.Safra Asset Management Corp increased its holdings in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after purchasing an additional 244 shares during the period. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after buying an additional 281 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. Arizona State Retirement System lifted its stake in Wayfair by 2.4% in the fourth quarter. Arizona State Retirement System now owns 26,951 shares of the company's stock worth $1,194,000 after acquiring an additional 624 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in Wayfair by 5.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock worth $555,000 after acquiring an additional 690 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the transaction, the insider now owns 57,899 shares in the company, valued at $2,479,814.17. The trade was a 8.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the sale, the chief financial officer now directly owns 144,474 shares of the company's stock, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,532 shares of company stock worth $5,090,232 in the last 90 days. Insiders own 26.81% of the company's stock.

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Wayfair Stock Performance

Shares of Wayfair stock traded up $1.14 during trading on Monday, hitting $27.19. 10,536,019 shares of the company's stock were exchanged, compared to its average volume of 4,499,687. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $76.18. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -6.76 and a beta of 3.72. The business has a 50-day simple moving average of $39.50 and a 200-day simple moving average of $44.63.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, equities analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on W. Truist Financial reduced their price target on shares of Wayfair from $55.00 to $53.00 and set a "buy" rating for the company in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Wayfair in a research report on Friday, February 21st. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Wayfair in a research report on Monday, March 10th. Piper Sandler set a $58.00 price objective on Wayfair and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Citigroup downgraded shares of Wayfair from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $58.00 to $28.00 in a report on Friday. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Wayfair presently has an average rating of "Hold" and a consensus price target of $54.84.

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.