Wayfair Inc. (NYSE:W) is Tabor Asset Management LP's 7th Largest Position

Tabor Asset Management LP boosted its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 11.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,871 shares of the company's stock after buying an additional 15,932 shares during the quarter. Wayfair accounts for approximately 4.2% of Tabor Asset Management LP's investment portfolio, making the stock its 7th largest position. Tabor Asset Management LP owned 0.13% of Wayfair worth $8,813,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now owns 179,073 shares in the company, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares of the company's stock, valued at $7,502,054.84. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,868 shares of company stock valued at $3,272,548. Company insiders own 26.81% of the company's stock.

Wayfair Price Performance

W traded up $4.31 on Friday, reaching $53.60. 4,041,570 shares of the company's stock were exchanged, compared to its average volume of 4,416,668. The stock has a market cap of $6.72 billion, a PE ratio of -11.64 and a beta of 3.44. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18. The stock's fifty day moving average price is $47.01 and its 200-day moving average price is $49.43.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same period last year, the firm earned ($1.38) earnings per share. Wayfair's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts predict that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Wayfair from $69.00 to $46.00 and set a "buy" rating for the company in a report on Monday, November 4th. StockNews.com cut Wayfair from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. Piper Sandler reduced 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. Truist Financial decreased their price target on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Finally, Citigroup cut their price objective on shares of Wayfair from $70.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.28.

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.