Highland Peak Capital LLC Has $5.38 Million Stake in Wayfair Inc. (NYSE:W)

Highland Peak Capital LLC lowered its stake in Wayfair Inc. (NYSE:W) by 2.2% during the third quarter, Holdings Channel reports. The institutional investor owned 95,773 shares of the company’s stock after selling 2,180 shares during the period. Wayfair comprises approximately 2.4% of Highland Peak Capital LLC’s investment portfolio, making the stock its 10th biggest position. Highland Peak Capital LLC’s holdings in Wayfair were worth $5,381,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Capital World Investors raised its holdings in Wayfair by 0.9% during the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after buying an additional 103,369 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the period. Renaissance Technologies LLC raised its position in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in shares of Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after buying an additional 227,908 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

W has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Guggenheim reaffirmed a “buy” rating and issued a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. BMO Capital Markets reduced their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Truist Financial dropped their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Wayfair in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 8,435 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $447,561.10. Following the sale, the chief operating officer now directly owns 179,180 shares of the company’s stock, valued at $9,507,290.80. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. This represents a 10.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,868 shares of company stock valued at $2,003,248 in the last quarter. Company insiders own 26.81% of the company’s stock.

Wayfair Price Performance

W opened at $42.39 on Thursday. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18. The company has a 50-day moving average of $48.02 and a 200-day moving average of $51.14.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm posted ($1.38) earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

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.