Polar Asset Management Partners Inc. Invests $3.52 Million in Wayfair Inc. (NYSE:W)

Polar Asset Management Partners Inc. bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 62,600 shares of the company's stock, valued at approximately $3,517,000.

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

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares of the company's stock, valued at approximately $7,502,054.84. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,868 shares of company stock worth $3,272,548 over the last 90 days. 26.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on W shares. Piper Sandler dropped their target price on shares of Wayfair from $67.00 to $63.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Stifel Nicolaus cut their target price on shares of Wayfair from $55.00 to $47.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Truist Financial lowered their price target on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, November 4th. Guggenheim restated a "buy" rating and set a $70.00 price objective on shares of Wayfair in a research report on Thursday, September 26th. Finally, Royal Bank of Canada lowered their target price on Wayfair from $53.00 to $50.00 and set a "sector perform" rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and a consensus target price of $60.28.

Wayfair Trading Down 0.8 %

W traded down $0.40 during trading on Thursday, reaching $49.29. The stock had a trading volume of 2,262,781 shares, compared to its average volume of 4,418,629. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of -10.98 and a beta of 3.44. The stock's 50 day moving average is $47.01 and its two-hundred day moving average is $49.43. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) 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 analysts' expectations of $2.87 billion. Wayfair's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.38) earnings per share. On average, equities research analysts predict that Wayfair Inc. will post -2.88 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.