Symmetry Investments LP Makes New Investment in Wayfair Inc. (NYSE:W)

Symmetry Investments LP bought a new position in Wayfair Inc. (NYSE:W) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 23,000 shares of the company’s stock, valued at approximately $1,213,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ensign Peak Advisors Inc increased its holdings in shares of Wayfair by 214.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 185,534 shares of the company’s stock worth $9,783,000 after buying an additional 126,525 shares during the last quarter. Octahedron Capital Management L.P. increased its holdings in shares of Wayfair by 209.7% in the 2nd quarter. Octahedron Capital Management L.P. now owns 96,000 shares of the company’s stock worth $5,062,000 after buying an additional 65,000 shares during the last quarter. Wolf Hill Capital Management LP increased its holdings in shares of Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Wayfair by 32.8% in the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after buying an additional 32,968 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Wayfair by 43.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 182,900 shares of the company’s stock worth $9,644,000 after buying an additional 55,200 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Stock Performance

NYSE:W opened at $52.90 on Friday. The firm has a market cap of $6.37 billion, a P/E ratio of -9.87 and a beta of 3.40. Wayfair Inc. has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The firm has a 50-day simple moving average of $46.48 and a two-hundred day simple moving average of $54.87.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the company earned ($1.27) EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Wayfair Inc. will post -2.66 EPS for the current year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on 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 owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The disclosure for this sale can be found here. Insiders sold 41,113 shares of company stock worth $2,126,623 over the last three months. 26.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. 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 report on Friday, August 2nd. Citigroup reduced their target price on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $58.00 in a report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their target price on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.63.

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.