Wayfair Inc. $W Stake Decreased by Bares Capital Management Inc.

Bares Capital Management Inc. lessened its holdings in shares of Wayfair Inc. (NYSE:W) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 795,061 shares of the company’s stock after selling 173,288 shares during the period. Wayfair accounts for approximately 2.8% of Bares Capital Management Inc.’s investment portfolio, making the stock its 8th biggest position. Bares Capital Management Inc. owned about 0.63% of Wayfair worth $25,466,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Wayfair by 6.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,904 shares of the company’s stock valued at $3,010,000 after acquiring an additional 4,177 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Wayfair by 11.4% in the 4th quarter. Northern Trust Corp now owns 463,457 shares of the company’s stock valued at $20,540,000 after purchasing an additional 47,326 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Wayfair during the 4th quarter worth $900,000. Brevan Howard Capital Management LP grew its holdings in shares of Wayfair by 14.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 63,217 shares of the company’s stock worth $2,802,000 after purchasing an additional 7,943 shares during the period. Finally, Contour Asset Management LLC increased its position in shares of Wayfair by 18.7% during the 4th quarter. Contour Asset Management LLC now owns 835,455 shares of the company’s stock worth $37,027,000 after purchasing an additional 131,455 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Stock Down 1.3%

Shares of NYSE:W opened at $74.51 on Tuesday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $81.94. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of -31.05 and a beta of 2.95. The firm’s 50 day moving average price is $65.31 and its 200 day moving average price is $46.44.

Wayfair (NYSE:W) last released its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Wayfair’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.47 earnings per share. On average, equities analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on W. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $70.00 target price (up previously from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Loop Capital reiterated a “sell” rating and issued a $35.00 target price on shares of Wayfair in a report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price target on Wayfair from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 5th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.19.

Insiders Place Their Bets

In other news, insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the sale, the insider owned 459,073 shares in the company, valued at approximately $36,757,975.11. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Niraj Shah sold 85,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the sale, the chief executive officer directly owned 459,137 shares of the company’s stock, valued at $36,763,099.59. The trade was a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,240,204 shares of company stock valued at $81,706,986. 21.91% of the stock is owned by corporate insiders.

Wayfair Company 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.