Shellback Capital LP Cuts Stock Holdings in Wayfair Inc. (NYSE:W)

Shellback Capital LP lessened its holdings in Wayfair Inc. (NYSE:W) by 34.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,500 shares of the company’s stock after selling 45,000 shares during the period. Shellback Capital LP owned about 0.07% of Wayfair worth $3,834,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. J.Safra Asset Management Corp grew its stake in Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position 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 buying an additional 502 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Wayfair during the 4th quarter worth approximately $41,000. Venturi Wealth Management LLC purchased a new stake in Wayfair during the fourth quarter valued at approximately $45,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Wayfair in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the sale, the chief financial officer now directly owns 144,474 shares of the company’s stock, 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. Over the last 90 days, insiders sold 122,826 shares of company stock valued at $4,587,201. 21.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on W. Zelman & Associates began coverage on Wayfair in a report on Thursday. They set an “outperform” rating for the company. UBS Group decreased their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. BMO Capital Markets set a $38.00 price target on Wayfair in a research note on Friday, May 2nd. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.00 to $47.00 in a research report on Friday, March 7th. Finally, Argus upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Wayfair Stock Up 0.4%

Shares of W opened at $38.68 on Friday. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $71.15. The stock has a market cap of $4.91 billion, a PE ratio of -9.62 and a beta of 2.93. The firm’s fifty day moving average is $31.02 and its two-hundred day moving average is $40.01.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.32) EPS. As a group, research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

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.