AXQ Capital LP Purchases Shares of 13,918 Wayfair Inc. $W

AXQ Capital LP purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,918 shares of the company’s stock, valued at approximately $1,398,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in Wayfair by 4.1% during the third quarter. Capital World Investors now owns 13,374,574 shares of the company’s stock valued at $1,194,750,000 after purchasing an additional 521,240 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Wayfair by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after acquiring an additional 72,707 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Wayfair by 826.0% in the third 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 period. Geode Capital Management LLC boosted its position in shares of Wayfair by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 1,903,219 shares of the company’s stock valued at $191,145,000 after acquiring an additional 185,897 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Wayfair by 5.8% in the third quarter. AQR Capital Management LLC now owns 1,647,726 shares of the company’s stock valued at $147,191,000 after acquiring an additional 89,789 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Activity

In other news, 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 completion of the sale, the chief executive officer directly owned 429,137 shares in the company, valued at approximately $33,738,750.94. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 7,139 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $78.55, for a total value of $560,768.45. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 463,785 shares of company stock worth $35,864,224. 18.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $76.00 price objective on Wayfair in a research report on Monday, May 4th. Canaccord Genuity Group reduced their price objective on Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective on Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Morgan Stanley set a $110.00 price objective on Wayfair in a research report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price objective on Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.89.

Wayfair Stock Performance

Shares of NYSE W opened at $72.79 on Tuesday. The stock has a market cap of $9.61 billion, a PE ratio of -31.10, a PEG ratio of 3.80 and a beta of 3.02. The business has a fifty day moving average of $71.02 and a two-hundred day moving average of $87.50. Wayfair Inc. has a 52-week low of $39.90 and a 52-week high of $119.98.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. Analysts predict that Wayfair Inc. will post 0.63 earnings per share for the current 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.