272 Capital LP Takes $2.01 Million Position in Wayfair Inc. (NYSE:W)

272 Capital LP bought a new position in shares of Wayfair Inc. (NYSE:W) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,088 shares of the company’s stock, valued at approximately $2,008,000.

Other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co purchased a new position in Wayfair in the first quarter valued at about $27,000. ORG Partners LLC purchased a new stake in shares of Wayfair during the 1st quarter valued at about $37,000. International Assets Investment Management LLC acquired a new position in Wayfair during the 2nd quarter worth approximately $58,000. Comerica Bank lifted its position in Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair in the 2nd quarter worth approximately $109,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 4,395 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the completion of the transaction, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,113 shares of company stock worth $2,126,623. Insiders own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Guggenheim lowered their target price on Wayfair from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Finally, Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.63.

Wayfair Price Performance

NYSE:W opened at $53.05 on Tuesday. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18. The business has a 50 day simple moving average of $46.47 and a 200 day simple moving average of $54.75. The firm has a market capitalization of $6.39 billion, a P/E ratio of -9.90 and a beta of 3.40.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted ($1.27) earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Wayfair Inc. will post -2.66 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.