Elequin Capital LP Sells 798 Shares of Wayfair Inc. (NYSE:W)

Elequin Capital LP cut its stake in shares of Wayfair Inc. (NYSE:W) by 56.4% during the 4th quarter, Holdings Channel reports. The fund owned 616 shares of the company’s stock after selling 798 shares during the period. Elequin Capital LP’s holdings in Wayfair were worth $27,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. True Wealth Design LLC grew its stake in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the period. J.Safra Asset Management Corp lifted its holdings in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Wayfair in the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC bought a new stake in Wayfair during the 4th quarter valued at $45,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Wayfair news, insider Steven Conine sold 4,861 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.12, for a total transaction of $195,023.32. Following the sale, the insider now directly owns 544,414 shares of the company’s stock, valued at $21,841,889.68. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Fiona Tan sold 23,835 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares of the company’s stock, valued at $3,547,205.76. This represents a 17.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,330 shares of company stock valued at $3,377,506 in the last three months. Company insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Wayfair in a research note on Thursday, May 1st. Canaccord Genuity Group lowered their target price on shares of Wayfair from $68.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Zelman & Associates initiated coverage on Wayfair in a research note on Thursday, May 15th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft lowered Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Monday, April 14th. Finally, Evercore ISI increased their price objective on Wayfair from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Wayfair Price Performance

Shares of Wayfair stock opened at $36.43 on Thursday. The firm has a market cap of $4.62 billion, a PE ratio of -9.06 and a beta of 2.93. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $65.25. The stock has a fifty day moving average price of $31.47 and a 200-day moving average price of $39.90.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Wayfair’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) EPS. As a group, equities analysts anticipate 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.