Blueshift Asset Management LLC Invests $281,000 in Wayfair Inc. (NYSE:W)

Blueshift Asset Management LLC acquired a new position in shares of Wayfair Inc. (NYSE:W) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,338 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after purchasing an additional 740,641 shares during the last quarter. Geode Capital Management LLC increased its stake in Wayfair by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after buying an additional 35,268 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in shares of Wayfair during the 3rd quarter worth approximately $78,652,000. Holocene Advisors LP boosted its stake in shares of Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after buying an additional 1,213,896 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after acquiring an additional 201,157 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on W. Bank of America dropped their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Raymond James set a $60.00 price objective on shares of Wayfair and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus decreased their price target on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.81.

Insider Activity at Wayfair

In other news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the transaction, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 4,521 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.88, for a total value of $211,944.48. Following the transaction, the insider now directly owns 63,568 shares in the company, valued at approximately $2,980,067.84. This represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,189 shares of company stock valued at $4,810,693 over the last three months. 26.81% of the stock is owned by corporate insiders.

Wayfair Stock Performance

Shares of W stock opened at $33.67 on Friday. The company has a market capitalization of $4.27 billion, a PE ratio of -8.37 and a beta of 3.44. Wayfair Inc. has a 52-week low of $29.68 and a 52-week high of $76.18. The business’s fifty day moving average is $41.99 and its 200 day moving average is $45.47.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal 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.