MYDA Advisors LLC Buys New Position in Wayfair Inc. (NYSE:W)

MYDA Advisors LLC bought a new stake in shares of Wayfair Inc. (NYSE:W - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,000 shares of the company's stock, valued at approximately $2,216,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital World Investors raised its holdings in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after acquiring an additional 782,757 shares during the period. 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 worth $273,887,000 after purchasing an additional 740,641 shares during the period. Norges Bank acquired a new position in shares of Wayfair during the 4th quarter worth about $31,472,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Wayfair during the 4th quarter worth about $30,735,000. Finally, Renaissance Technologies LLC boosted its stake in Wayfair by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock valued at $169,952,000 after purchasing an additional 581,000 shares during the period. Institutional investors and hedge funds own 89.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on W. Jefferies Financial Group upgraded Wayfair from a "hold" rating to a "buy" rating and upped their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. UBS Group dropped their target price on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday. Loop Capital dropped their price objective on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Finally, BMO Capital Markets upped their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a research report on Friday, February 21st. Sixteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair currently has a consensus rating of "Hold" and an average price target of $51.32.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 23,835 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares of the company's stock, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at approximately $4,575,491.58. This represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,863 shares of company stock worth $3,393,929 over the last ninety days. Company insiders own 21.91% of the company's stock.

Wayfair Stock Performance

Shares of NYSE W traded up $1.16 during trading on Thursday, reaching $29.43. The company had a trading volume of 3,800,846 shares, compared to its average volume of 4,639,616. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $76.18. The business's 50 day moving average price is $33.34 and its 200-day moving average price is $42.01. The stock has a market cap of $3.73 billion, a PE ratio of -7.32 and a beta of 3.72.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly 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 company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. Equities analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current 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.