Dockside LLC Acquires New Position in Wayfair Inc. $W

Dockside LLC purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,817 shares of the company’s stock, valued at approximately $1,990,000.

A number of other institutional investors have also recently made changes to their positions in W. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Wayfair by 826.0% during the 3rd 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 last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Wayfair during the 3rd quarter valued at about $108,125,000. Norges Bank purchased a new stake in shares of Wayfair during the 4th quarter valued at about $117,973,000. AQR Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,033,865 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Wayfair by 351.9% during the 2nd quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock valued at $66,178,000 after acquiring an additional 1,007,676 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Trading Down 0.4%

W opened at $77.37 on Friday. The company has a market cap of $10.21 billion, a price-to-earnings ratio of -33.06, a PEG ratio of 4.08 and a beta of 3.02. The company’s 50 day moving average is $70.55 and its 200 day moving average is $85.69. Wayfair Inc. has a 12-month low of $45.46 and a 12-month high of $119.98.

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

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,790 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total value of $345,790.10. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the completion of the transaction, the director directly owned 436,212 shares in the company, valued at approximately $33,806,430. The trade was a 20.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 463,785 shares of company stock valued at $35,864,224. 18.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on W. Citigroup dropped their price target on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Morgan Stanley set a $110.00 price target on shares of Wayfair in a report on Friday, May 1st. Guggenheim reaffirmed a “buy” rating and set a $100.00 price target on shares of Wayfair in a report on Wednesday, May 20th. The Goldman Sachs Group set a $79.00 price target on shares of Wayfair in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.68.

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.