Cinctive Capital Management LP Acquires New Position in Wayfair Inc. (NYSE:W)

Cinctive Capital Management LP bought a new position in shares of Wayfair Inc. (NYSE:W) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 79,458 shares of the company’s stock, valued at approximately $4,464,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Highland Peak Capital LLC acquired a new stake in shares of Wayfair during the second quarter worth about $5,165,000. Sei Investments Co. increased its stake in Wayfair by 32.8% during the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after purchasing an additional 32,968 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Wayfair during the 2nd quarter worth approximately $8,189,000. Bridgewater Associates LP bought a new position in Wayfair in the third quarter valued at approximately $7,203,000. Finally, Emerald Advisers LLC acquired a new position in shares of Wayfair in the second quarter valued at approximately $686,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Trading Up 3.9 %

W stock opened at $48.06 on Tuesday. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18. The business’s 50 day simple moving average is $47.25 and its 200 day simple moving average is $49.56. The firm has a market capitalization of $6.02 billion, a PE ratio of -10.70 and a beta of 3.44.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.38) earnings per share. As a group, sell-side analysts predict that Wayfair Inc. will post -2.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wedbush dropped their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada decreased their price objective on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Robert W. Baird cut their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. UBS Group decreased their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Insider Buying and Selling at Wayfair

In related news, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. The trade was a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,868 shares of company stock valued at $3,272,548 in the last three months. 23.50% of the stock is currently owned by company insiders.

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.