Quarry LP Increases Holdings in Wayfair Inc. (NYSE:W)

Quarry LP lifted its position in Wayfair Inc. (NYSE:W) by 880.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,548 shares of the company’s stock after purchasing an additional 2,288 shares during the period. Quarry LP’s holdings in Wayfair were worth $134,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of W. Advisory Services Network LLC bought a new position in Wayfair in the fourth quarter worth approximately $201,000. Hsbc Holdings PLC raised its stake in Wayfair by 33.7% in the fourth quarter. Hsbc Holdings PLC now owns 72,717 shares of the company’s stock worth $4,518,000 after buying an additional 18,316 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Wayfair by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after buying an additional 360 shares in the last quarter. Bank of Nova Scotia bought a new position in Wayfair in the fourth quarter worth approximately $860,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in Wayfair by 74.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 20,055 shares of the company’s stock worth $1,237,000 after buying an additional 8,564 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

W has been the subject of a number of recent research reports. Citigroup reduced their price objective on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada reduced their price target on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Twelve research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.83.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the sale, the insider now directly owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’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 transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders sold a total of 15,826 shares of company stock valued at $842,890 over the last ninety days. Insiders own 26.81% of the company’s stock.

Wayfair Stock Down 5.2 %

NYSE:W opened at $53.24 on Wednesday. The company has a fifty day simple moving average of $46.61 and a two-hundred day simple moving average of $54.49. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -9.93 and a beta of 3.40. Wayfair Inc. has a 52 week low of $38.02 and a 52 week high of $76.18.

Wayfair (NYSE:W) last issued its 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 company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.27) EPS. On average, analysts expect that Wayfair Inc. will post -2.68 EPS for the current 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.