Pinnbrook Capital Management LP lessened its holdings in Wayfair Inc. (NYSE:W – Free Report) by 76.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,364 shares of the company’s stock after selling 51,994 shares during the period. Pinnbrook Capital Management LP’s holdings in Wayfair were worth $1,643,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital World Investors increased its stake in shares of Wayfair by 4.1% in the 3rd quarter. Capital World Investors now owns 13,374,574 shares of the company’s stock valued at $1,194,750,000 after purchasing an additional 521,240 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after purchasing an additional 72,707 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Wayfair by 826.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after purchasing an additional 2,512,854 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Wayfair by 5.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,647,726 shares of the company’s stock valued at $147,191,000 after purchasing an additional 89,789 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in shares of Wayfair by 351.9% in the 2nd quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock valued at $66,178,000 after purchasing an additional 1,007,676 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.
Insiders Place Their Bets
In other Wayfair news, Director Steven Conine sold 7,139 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $78.55, for a total transaction of $560,768.45. Following the completion of the sale, the director directly owned 429,073 shares in the company, valued at approximately $33,703,684.15. The trade was a 1.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total value of $345,790.10. Following the sale, the insider owned 111,158 shares of the company’s stock, valued at approximately $8,024,496.02. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 703,785 shares of company stock worth $54,004,173. Corporate insiders own 18.44% of the company’s stock.
Key Headlines Impacting Wayfair
- Positive Sentiment: Wayfair is featured in multiple Memorial Day deal roundups, including discounted air conditioners, outdoor furniture, grills, mattresses, and storage items, which may signal strong seasonal traffic and promotional momentum. Air Conditioners Are Up to 69% Off Ahead of Summer at Amazon, Lowe’s, and Wayfair
- Positive Sentiment: Articles spotlighting Wayfair’s large-ticket markdowns, such as a $1,143 outdoor set cut to $376 and an $800 grill discounted to $276, may reinforce the view that the company is successfully using promotions to stimulate higher-value purchases. Wayfair’s $1,143 outdoor furniture set is on sale for only $376 this week
- Positive Sentiment: Additional deal coverage on storage, Father’s Day gifts, and discounted furniture suggests Wayfair is staying highly visible to shoppers and may benefit from improved conversion rates during a key retail period. Not Baskets: Wayfair Has A Storage Find That’ll Organize Both Shoes And Blankets
- Neutral Sentiment: Wayfair’s presentation at J.P. Morgan’s annual technology, media and communications conference keeps the company in front of investors, but the transcript itself does not appear to include a major new catalyst. Wayfair Inc. (W) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
- Negative Sentiment: The heavy reliance on discounts also highlights ongoing pricing pressure, which could help demand but weigh on margins if promotions remain deep for too long.
Wayfair Trading Up 2.3%
NYSE:W opened at $66.23 on Friday. Wayfair Inc. has a 12 month low of $34.46 and a 12 month high of $119.98. The stock has a 50 day moving average of $71.79 and a two-hundred day moving average of $89.16. The firm has a market cap of $8.74 billion, a P/E ratio of -28.30, a price-to-earnings-growth ratio of 3.69 and a beta of 3.02.
Wayfair (NYSE:W – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the business earned $0.10 EPS. Wayfair’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that Wayfair Inc. will post 0.58 earnings per share for the current year.
Wall Street Analyst Weigh In
W has been the subject of several recent analyst reports. TD Cowen cut their price target on Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Robert W. Baird set a $76.00 price target on Wayfair in a research note on Monday, May 4th. Stifel Nicolaus cut their price target on Wayfair from $100.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Finally, Morgan Stanley set a $110.00 price target on Wayfair in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.89.
View Our Latest Analysis on Wayfair
Wayfair Company Profile
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.
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