Arrowstreet Capital Limited Partnership Makes New $30.74 Million Investment in Wayfair Inc. (NYSE:W)

Arrowstreet Capital Limited Partnership purchased a new stake in Wayfair Inc. (NYSE:W) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 693,468 shares of the company’s stock, valued at approximately $30,735,000. Arrowstreet Capital Limited Partnership owned about 0.55% of Wayfair as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of W. Vanguard Group Inc. boosted its position in Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after buying an additional 327,603 shares during the period. Baillie Gifford & Co. lifted its holdings 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 worth $273,887,000 after purchasing an additional 740,641 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Wayfair by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after purchasing an additional 35,268 shares during the period. Wellington Management Group LLP grew its stake in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Wayfair by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock valued at $44,733,000 after purchasing an additional 35,057 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Trading Up 5.5 %

NYSE W opened at $33.70 on Thursday. The firm has a market capitalization of $4.28 billion, a P/E ratio of -8.38 and a beta of 3.44. The business has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $45.01. Wayfair Inc. has a 12 month low of $28.47 and a 12 month high of $76.18.

Wayfair (NYSE:W) last released 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 for the quarter, compared to the consensus estimate of $3.07 billion. As a group, sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Fiona Tan sold 8,249 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the sale, the chief technology officer now owns 96,557 shares in the company, valued at approximately $4,336,374.87. This trade represents a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the sale, the insider now directly owns 589,073 shares in the company, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,577 shares of company stock valued at $6,792,672 in the last 90 days. 26.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Wayfair 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.