BloombergSen Inc. Raises Stock Holdings in Wayfair Inc. (NYSE:W)

BloombergSen Inc. increased its stake in shares of Wayfair Inc. (NYSE:W) by 28.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,869 shares of the company’s stock after purchasing an additional 7,252 shares during the quarter. Wayfair makes up approximately 0.1% of BloombergSen Inc.’s holdings, making the stock its 22nd largest holding. BloombergSen Inc.’s holdings in Wayfair were worth $1,457,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in W. Cerity Partners LLC purchased a new stake in Wayfair in the third quarter valued at approximately $1,070,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wayfair in the 3rd quarter valued at $44,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Wayfair during the 3rd quarter valued at $384,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Wayfair during the 3rd quarter worth $3,517,000. Finally, Quarry LP raised its position in shares of Wayfair by 47.4% in the 3rd quarter. Quarry LP now owns 3,755 shares of the company’s stock worth $211,000 after buying an additional 1,207 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00. Following the completion of the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Blotner sold 4,521 shares of Wayfair stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.88, for a total value of $211,944.48. Following the transaction, the insider now directly owns 63,568 shares in the company, valued at approximately $2,980,067.84. This trade represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,388 shares of company stock valued at $5,930,556 over the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Wayfair Stock Down 25.7 %

Shares of NYSE W opened at $25.05 on Friday. The stock’s fifty day simple moving average is $39.95 and its 200 day simple moving average is $44.87. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -6.23 and a beta of 3.72. Wayfair Inc. has a 52-week low of $23.61 and a 52-week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results 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 company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on W shares. Raymond James set a $60.00 price objective on Wayfair and gave the company a “strong-buy” rating in a research note on Friday, February 21st. BMO Capital Markets boosted their price objective on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. cut their target price on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a report on Monday, March 10th. Finally, Bank of America reduced their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.81.

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.