Blueshift Asset Management LLC Has $2.79 Million Position in Wayfair Inc. $W

Blueshift Asset Management LLC cut its position in Wayfair Inc. (NYSE:W) by 53.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,452 shares of the company’s stock after selling 63,065 shares during the quarter. Wayfair comprises about 0.9% of Blueshift Asset Management LLC’s portfolio, making the stock its 12th biggest holding. Blueshift Asset Management LLC’s holdings in Wayfair were worth $2,785,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Wayfair by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company’s stock valued at $32,416,000 after acquiring an additional 2,736 shares in the last quarter. Swiss National Bank boosted its holdings in Wayfair by 0.3% in the 1st quarter. Swiss National Bank now owns 183,300 shares of the company’s stock valued at $5,871,000 after purchasing an additional 600 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Wayfair by 15,266.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock worth $148,000 after purchasing an additional 4,580 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Wayfair during the first quarter worth approximately $215,000. Finally, Corient IA LLC bought a new position in shares of Wayfair during the first quarter worth approximately $240,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 150,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the sale, the insider owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the transaction, the chief executive officer owned 729,137 shares of the company’s stock, valued at $77,222,899.67. This trade represents a 17.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 955,959 shares of company stock valued at $88,260,274. 21.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

W has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Wayfair from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group lifted their price objective on Wayfair from $91.00 to $102.00 and gave the company a “buy” rating in a report on Friday, September 19th. Zelman & Associates upped their target price on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Cowen restated a “hold” rating on shares of Wayfair in a research report on Wednesday, October 29th. Finally, Guggenheim boosted their price target on Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $105.57.

Wayfair Stock Down 0.7%

Shares of W stock opened at $110.02 on Tuesday. The business has a fifty day simple moving average of $94.16 and a 200 day simple moving average of $73.55. The company has a market cap of $14.34 billion, a P/E ratio of -42.98 and a beta of 3.25. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $114.92.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wayfair Company 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.