Night Squared LP Sells 18,349 Shares of Wayfair Inc. $W

Night Squared LP trimmed its position in Wayfair Inc. (NYSE:W) by 30.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 42,067 shares of the company’s stock after selling 18,349 shares during the period. Night Squared LP’s holdings in Wayfair were worth $4,224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Webster Bank N. A. bought a new position in shares of Wayfair in the 4th quarter worth $30,000. V Square Quantitative Management LLC bought a new position in shares of Wayfair in the 4th quarter worth $33,000. Piper Sandler & CO. bought a new position in shares of Wayfair in the 4th quarter worth $34,000. Havemeyer Place LP bought a new position in shares of Wayfair in the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

W has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Wayfair from $114.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Robert W. Baird set a $76.00 price target on Wayfair in a research report on Monday, May 4th. Guggenheim restated a “buy” rating and issued a $100.00 price target on shares of Wayfair in a research report on Wednesday, May 20th. TD Cowen reduced their price target on Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Finally, Stifel Nicolaus reduced their price target on Wayfair from $100.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. 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 company’s stock. Based on data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.68.

Insider Buying and Selling

In related news, Director Steven Conine sold 7,139 shares of the firm’s stock in a transaction 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 sale, the director owned 429,073 shares of the company’s stock, valued at approximately $33,703,684.15. This trade represents a 1.64% decrease in their position. The sale 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, CEO Niraj Shah sold 6,137 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.62, for a total value of $482,490.94. Following the sale, the chief executive officer directly owned 429,137 shares in the company, valued at $33,738,750.94. The trade was a 1.41% 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. In 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 company insiders.

Wayfair Trading Up 0.5%

Shares of Wayfair stock opened at $83.39 on Wednesday. The company has a market capitalization of $11.01 billion, a PE ratio of -35.63, a PEG ratio of 4.36 and a beta of 3.02. Wayfair Inc. has a 12 month low of $47.21 and a 12 month high of $119.98. The stock’s fifty day simple moving average is $70.97 and its 200 day simple moving average is $85.16.

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

Wayfair 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.