Wayfair Inc. (NYSE:W) is Formula Growth Ltd.'s 5th Largest Position

Formula Growth Ltd. raised its position in Wayfair Inc. (NYSE:W - Free Report) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,689 shares of the company's stock after purchasing an additional 12,572 shares during the quarter. Wayfair accounts for about 2.2% of Formula Growth Ltd.'s holdings, making the stock its 5th biggest holding. Formula Growth Ltd. owned about 0.12% of Wayfair worth $6,413,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. J.Safra Asset Management Corp lifted 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 buying an additional 244 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after acquiring an additional 502 shares during the period. GAMMA Investing LLC boosted its holdings in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Wayfair during the 4th quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Wayfair in the 4th quarter worth approximately $45,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on W shares. Citigroup lowered shares of Wayfair from a "buy" rating to a "neutral" rating and dropped their target price for the company from $58.00 to $28.00 in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft lowered Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target on the stock. in a research note on Monday, April 14th. Bank of America reduced their price objective on shares of Wayfair from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Stifel Nicolaus dropped their target price on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price target on shares of Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. Sixteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $51.32.

Wayfair Trading Up 4.7 %

Shares of W stock traded up $1.32 on Thursday, hitting $29.59. 2,078,949 shares of the stock were exchanged, compared to its average volume of 5,154,723. The firm has a market capitalization of $3.75 billion, a PE ratio of -7.36 and a beta of 3.72. Wayfair Inc. has a one year low of $20.41 and a one year high of $76.18. The firm's 50 day moving average is $33.34 and its two-hundred day moving average is $42.01.

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

Insiders Place Their Bets

In other news, insider Steven Conine sold 30,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now owns 559,073 shares of the company's stock, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the transaction, the chief financial officer now owns 144,474 shares in the company, valued at approximately $4,575,491.58. The trade was a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,863 shares of company stock valued at $3,393,929 in the last quarter. Corporate insiders own 21.91% of the company's stock.

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.