Concentric Capital Strategies LP Invests $11.08 Million in Wayfair Inc. $W

Concentric Capital Strategies LP purchased a new stake in Wayfair Inc. (NYSE:W) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 110,305 shares of the company’s stock, valued at approximately $11,076,000. Concentric Capital Strategies LP owned approximately 0.08% of Wayfair at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of W. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wayfair by 826.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after acquiring an additional 2,512,854 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Wayfair during the 3rd quarter worth about $108,125,000. Norges Bank acquired a new stake in shares of Wayfair during the 4th quarter worth about $117,973,000. AQR Capital Management LLC lifted its holdings in Wayfair by 197.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after purchasing an additional 1,033,865 shares during the last quarter. Finally, Holocene Advisors LP boosted its position in Wayfair by 351.9% in the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock valued at $66,178,000 after buying an additional 1,007,676 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Down 1.9%

W stock opened at $81.62 on Thursday. The company has a market cap of $10.77 billion, a P/E ratio of -34.88, a PEG ratio of 4.37 and a beta of 3.02. Wayfair Inc. has a twelve month low of $47.21 and a twelve month high of $119.98. The business has a fifty day moving average of $71.17 and a 200-day moving average of $84.94.

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

Insider Activity

In other news, Director Steven Conine sold 112,861 shares of Wayfair stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the completion of the sale, the director owned 436,212 shares in the company, valued at $33,806,430. The trade was a 20.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the sale, the chief executive officer directly owned 435,274 shares of the company’s stock, valued at approximately $33,729,382.26. This trade represents a 20.73% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 463,785 shares of company stock valued at $35,864,224. 18.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

W has been the topic of several research analyst reports. Robert W. Baird set a $76.00 price objective on shares of Wayfair in a research note on Monday, May 4th. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Wayfair in a research report on Wednesday, May 20th. Jefferies Financial Group cut their price objective on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Wedbush decreased their target price on Wayfair from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, TD Cowen lowered their target price on Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $99.68.

About Wayfair

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.