Shellback Capital LP Lowers Stock Position in Wayfair Inc. (NYSE:W)

Shellback Capital LP cut its stake in shares of Wayfair Inc. (NYSE:W) by 34.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 86,500 shares of the company’s stock after selling 45,000 shares during the period. Shellback Capital LP’s holdings in Wayfair were worth $3,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. J.Safra Asset Management Corp lifted its stake in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Wayfair during the fourth quarter worth about $41,000. Venturi Wealth Management LLC acquired a new stake in shares of Wayfair during the fourth quarter worth about $45,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Wayfair during the fourth quarter worth about $48,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,826 shares of company stock worth $4,587,201. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zelman & Associates assumed coverage on shares of Wayfair in a report on Thursday. They issued an “outperform” rating for the company. Guggenheim decreased their price target on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Argus raised Wayfair from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday. UBS Group reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus decreased their target price on Wayfair from $46.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Wayfair Price Performance

NYSE W opened at $38.68 on Friday. The company has a fifty day moving average of $31.02 and a two-hundred day moving average of $40.01. The company has a market capitalization of $4.91 billion, a PE ratio of -9.62 and a beta of 2.93. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $71.15.

Wayfair (NYSE:W) last announced its earnings results 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 during the quarter, compared to analyst estimates of $2.71 billion. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. On average, research analysts expect 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.