QRG Capital Management Inc. Takes Position in Wayfair Inc. (NYSE:W)

QRG Capital Management Inc. bought a new position in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,598 shares of the company’s stock, valued at approximately $204,000.

Several other large investors have also recently added to or reduced their stakes in W. Southpoint Capital Advisors LP purchased a new stake in Wayfair during the 3rd quarter worth approximately $78,652,000. Holocene Advisors LP increased its position in shares of Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after purchasing an additional 1,213,896 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after purchasing an additional 740,641 shares during the last quarter. Groupama Asset Managment increased its position in shares of Wayfair by 100.0% in the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Wayfair by 35.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after purchasing an additional 253,681 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on W shares. BMO Capital Markets increased their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Truist Financial dropped their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Wayfair in a research report on Friday, February 21st. Finally, Raymond James set a $60.00 target price on shares of Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $57.69.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the completion of the transaction, the insider now owns 602,573 shares in the company, valued at approximately $27,567,714.75. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock worth $6,235,818 over the last 90 days. Company insiders own 23.50% of the company’s stock.

Wayfair Stock Up 5.9 %

Shares of NYSE W opened at $35.05 on Friday. Wayfair Inc. has a 52 week low of $32.50 and a 52 week high of $76.18. The firm has a 50-day moving average price of $44.61 and a 200 day moving average price of $46.22. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of -8.72 and a beta of 3.44.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Equities research analysts expect 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.