Wayfair Inc. (NYSE:W) Position Reduced by Bares Capital Management Inc.

Bares Capital Management Inc. lowered its position in Wayfair Inc. (NYSE:W) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 968,349 shares of the company’s stock after selling 15,173 shares during the quarter. Wayfair accounts for approximately 3.9% of Bares Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Bares Capital Management Inc. owned 0.77% of Wayfair worth $42,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Wayfair by 3.6% during the fourth 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Wayfair during the 4th quarter worth about $6,799,000. Sterling Capital Management LLC raised its stake in Wayfair by 60.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock valued at $250,000 after purchasing an additional 2,116 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Wayfair by 5.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Wayfair during the 4th quarter worth about $229,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of the company’s stock in a transaction dated 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 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 have sold 92,863 shares of company stock valued at $3,393,929 in the last quarter. Company insiders own 21.91% of the company’s stock.

Wayfair Stock Performance

W stock opened at $33.76 on Friday. The stock has a 50-day simple moving average of $31.32 and a 200-day simple moving average of $40.75. The firm has a market cap of $4.28 billion, a P/E ratio of -8.40 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 quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Raymond James set a $60.00 price objective on shares of Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $25.00 price target on shares of Wayfair in a research note on Friday, April 25th. Loop Capital lowered their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Mizuho reduced their target price on Wayfair from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Evercore ISI lifted their price target on Wayfair from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. Fourteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.79.

About Wayfair

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.