Kennondale Capital Management LLC Takes Position in Wayfair Inc. (NYSE:W)

Kennondale Capital Management LLC bought a new stake in Wayfair Inc. (NYSE:W) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 25,737 shares of the company’s stock, valued at approximately $1,141,000. Wayfair comprises about 0.9% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors also recently bought and sold shares of W. Baillie Gifford & Co. raised its stake in shares of Wayfair by 13.6% during the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares during the last quarter. Geode Capital Management LLC increased its holdings in Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after purchasing an additional 35,268 shares during the period. Southpoint Capital Advisors LP purchased a new position in Wayfair during the 3rd quarter valued at about $78,652,000. Holocene Advisors LP raised its position in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after purchasing an additional 1,213,896 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Wayfair by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after buying an additional 201,157 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Stock Performance

NYSE:W opened at $32.06 on Tuesday. The firm has a market cap of $4.07 billion, a P/E ratio of -7.97 and a beta of 3.44. Wayfair Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $76.18. The firm has a 50-day simple moving average of $43.06 and a two-hundred day simple moving average of $45.81.

Wayfair (NYSE:W) last released 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. On average, equities research analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on W. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Stifel Nicolaus reduced their price objective on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Truist Financial dropped their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Bank of America reduced their price target on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, Wedbush restated a “neutral” rating and issued a $46.00 price objective (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $56.81.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the completion of the sale, the insider now directly owns 602,573 shares in the company, valued at approximately $27,567,714.75. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 4,966 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.93, for a total transaction of $223,122.38. Following the sale, the insider now directly owns 68,089 shares in the company, valued at approximately $3,059,238.77. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,189 shares of company stock worth $6,183,193. 26.81% of the stock is owned by corporate insiders.

Wayfair Company 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.