Graham Capital Management L.P. Acquires Shares of 42,058 Wayfair Inc. (NYSE:W)

Graham Capital Management L.P. acquired a new stake in Wayfair Inc. (NYSE:W) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,058 shares of the company’s stock, valued at approximately $1,864,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in W. J.Safra Asset Management Corp increased its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Wayfair in the 4th quarter worth $41,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Wayfair in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $47.00 in a research report on Friday, March 7th. Bank of America cut their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a research report on Friday, February 21st. Mizuho cut their price objective on Wayfair from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research report on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.25.

Insider Buying and Selling

In other Wayfair news, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares of the company’s stock, valued at $3,547,205.76. The trade was a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at approximately $4,575,491.58. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,915 shares of company stock worth $3,389,028 over the last 90 days. 21.91% of the stock is owned by insiders.

Wayfair Stock Performance

Shares of W opened at $32.72 on Monday. The stock has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $40.10. The stock has a market capitalization of $4.15 billion, a PE ratio of -8.14 and a beta of 2.93. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18.

Wayfair (NYSE:W) last posted its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Wayfair’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) EPS. Analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

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.