66,458 Shares in Wayfair Inc. $W Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in shares of Wayfair Inc. (NYSE:W) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,458 shares of the company’s stock, valued at approximately $4,998,000. OP Asset Management Ltd owned 0.05% of Wayfair at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in W. Capital World Investors boosted its stake in shares of Wayfair by 0.6% during the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after acquiring an additional 82,584 shares during the last quarter. Vanguard Group Inc. raised its holdings in Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares during the period. Renaissance Technologies LLC raised its holdings in Wayfair by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock worth $542,950,000 after purchasing an additional 180,558 shares during the period. Janus Henderson Group PLC lifted its position in Wayfair by 4.9% during the fourth quarter. Janus Henderson Group PLC now owns 3,570,475 shares of the company’s stock valued at $358,514,000 after purchasing an additional 166,855 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Wayfair by 0.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after purchasing an additional 8,598 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,790 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total transaction of $345,790.10. Following the completion of the transaction, the insider owned 111,158 shares in the company, valued at $8,024,496.02. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of Wayfair stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total value of $8,823,243.87. Following the completion of the sale, the chief executive officer directly owned 435,274 shares in the company, valued at approximately $33,729,382.26. The trade was a 20.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 244,790 shares of company stock valued at $18,959,021. Insiders own 18.44% of the company’s stock.

Wayfair Stock Up 1.2%

Shares of W stock opened at $94.64 on Friday. The stock has a market cap of $12.49 billion, a P/E ratio of -40.44, a PEG ratio of 4.92 and a beta of 3.02. Wayfair Inc. has a 52 week low of $50.40 and a 52 week high of $119.98. The company’s fifty day simple moving average is $73.46 and its two-hundred day simple moving average is $84.48.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on W shares. Robert W. Baird set a $76.00 price objective on Wayfair in a research note on Monday, May 4th. Morgan Stanley set a $110.00 target price on shares of Wayfair in a report on Friday, May 1st. Royal Bank Of Canada decreased their target price on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 30th. Truist Financial set a $99.00 price target on shares of Wayfair in a report on Monday, June 8th. Finally, UBS Group dropped their price target on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.68.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.