Y Intercept Hong Kong Ltd Buys Shares of 78,637 Wayfair Inc. (NYSE:W)

Y Intercept Hong Kong Ltd bought a new position in shares of Wayfair Inc. (NYSE:W) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 78,637 shares of the company’s stock, valued at approximately $4,418,000. Y Intercept Hong Kong Ltd owned approximately 0.06% of Wayfair as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tabor Asset Management LP lifted its stake in Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after buying an additional 15,932 shares in the last quarter. Highland Peak Capital LLC acquired a new stake in Wayfair during the second quarter worth approximately $5,165,000. Sei Investments Co. grew its stake in 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 acquiring an additional 32,968 shares during the period. Cerity Partners LLC acquired a new position in Wayfair in the 3rd quarter valued at $1,070,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Wayfair in the 2nd quarter valued at $8,189,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

W has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a report on Friday, November 1st. Stifel Nicolaus cut their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com downgraded shares of Wayfair from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have assigned 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The transaction 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 dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,868 shares of company stock valued at $3,272,548. 23.50% of the stock is currently owned by insiders.

Wayfair Price Performance

NYSE W opened at $53.53 on Monday. The company’s fifty day simple moving average is $46.94 and its 200-day simple moving average is $49.14. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned ($1.38) EPS. On average, equities research analysts expect that Wayfair Inc. will post -2.91 earnings per share for the current year.

About Wayfair

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.