Renaissance Technologies LLC Purchases 581,000 Shares of Wayfair Inc. (NYSE:W)

Renaissance Technologies LLC grew its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,834,667 shares of the company's stock after purchasing an additional 581,000 shares during the quarter. Renaissance Technologies LLC owned approximately 3.06% of Wayfair worth $169,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in W. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp raised 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 buying an additional 502 shares during the period. GAMMA Investing LLC raised its stake in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after buying an additional 281 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Wayfair during the 4th quarter valued at about $41,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Wayfair during the 4th quarter valued at approximately $45,000. Institutional investors own 89.67% of the company's stock.

Wayfair Trading Up 2.4 %

Shares of NYSE W traded up $0.62 during trading hours on Friday, hitting $26.91. 6,562,857 shares of the company traded hands, compared to its average volume of 4,617,535. The company's 50 day moving average price is $36.48 and its 200 day moving average price is $43.39. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $76.18. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -6.69 and a beta of 3.72.

Remove Ads

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

Insider Activity at Wayfair

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com raised shares of Wayfair from a "sell" rating to a "hold" rating in a report on Thursday, December 19th. Loop Capital lowered their target price on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the stock an "overweight" rating in a report on Friday, February 21st. BMO Capital Markets raised their price target on Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.16.

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.