Stevens Capital Management LP Acquires New Position in Wayfair Inc. (NYSE:W)

Stevens Capital Management LP bought a new position in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,928 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds have also bought and sold shares of W. J.Safra Asset Management Corp raised its stake in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC raised its position in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair during the 3rd quarter valued at approximately $44,000. Finally, Brooklyn Investment Group acquired a new stake in Wayfair during the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Performance

Shares of W opened at $37.79 on Tuesday. The stock has a market capitalization of $4.80 billion, a PE ratio of -9.40 and a beta of 3.44. The company’s 50-day simple moving average is $41.87 and its 200-day simple moving average is $45.49. Wayfair Inc. has a 1 year low of $29.68 and a 1 year high of $76.18.

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

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Blotner sold 5,669 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the sale, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,189 shares of company stock worth $4,810,693 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on W. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Piper Sandler set a $58.00 price objective on Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research note on Monday, March 10th. Stifel Nicolaus dropped their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Finally, Raymond James set a $60.00 price target on Wayfair and gave the company a “strong-buy” rating in a report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $56.81.

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.