Assenagon Asset Management S.A. Purchases 573,401 Shares of Wayfair Inc. $W

Assenagon Asset Management S.A. raised its position in shares of Wayfair Inc. (NYSE:W) by 23,901.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 575,800 shares of the company’s stock after purchasing an additional 573,401 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Wayfair were worth $43,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of W. Capital World Investors increased its position in Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after purchasing an additional 82,584 shares during the last quarter. Vanguard Group Inc. increased its stake in Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after buying an additional 72,707 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Wayfair by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after purchasing an additional 180,558 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Wayfair by 4.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,570,475 shares of the company’s stock worth $358,514,000 after buying an additional 166,855 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Wayfair by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock worth $283,724,000 after acquiring an additional 8,598 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 113,863 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the sale, the chief executive officer directly owned 435,274 shares of the company’s stock, valued at $33,729,382.26. The trade was a 20.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 on Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value of $8,746,727.50. Following the completion of the transaction, the director owned 436,212 shares of the company’s stock, valued at $33,806,430. This trade represents a 20.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 244,790 shares of company stock worth $18,959,021. 18.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on W shares. Robert W. Baird set a $76.00 price target on Wayfair in a report on Monday, May 4th. Mizuho reduced their target price on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Jefferies Financial Group decreased their price target on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Wells Fargo & Company lowered their price target on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, Citigroup cut their price objective on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.68.

Wayfair Stock Performance

Shares of NYSE W opened at $93.55 on Friday. Wayfair Inc. has a fifty-two week low of $49.25 and a fifty-two week high of $119.98. The company has a market cap of $12.35 billion, a PE ratio of -39.98, a P/E/G ratio of 4.88 and a beta of 3.02. The business has a 50-day simple moving average of $73.10 and a two-hundred day simple moving average of $84.41.

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

Wayfair News Summary

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Multiple articles spotlight Wayfair’s 4-day flash sale and deep discounts on bedding, furniture, decor, storage, and outdoor products, which may be boosting shopper interest and supporting revenue growth. Article Title
• Positive Sentiment: Coverage of Wayfair’s “Prime Day” style promotion and fast delivery timing suggests the company is competing effectively on price and convenience, which can help improve conversion rates. Article Title
• Positive Sentiment: Reports describing Wayfair’s stock rebound and a “major furniture shift” may be helping investor sentiment by suggesting improving demand trends in home goods. Article Title
• Neutral Sentiment: Consumer lifestyle pieces featuring discounted products such as lanterns, grills, and sleeper sofas add visibility to Wayfair’s marketplace, but they do not materially change the investment thesis on their own. Article Title

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.