Atreides Management LP Has $78.12 Million Position in Wayfair Inc. (NYSE:W)

Atreides Management LP reduced its stake in Wayfair Inc. (NYSE:W) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,390,537 shares of the company’s stock after selling 156,849 shares during the quarter. Wayfair makes up 2.0% of Atreides Management LP’s investment portfolio, making the stock its 15th largest holding. Atreides Management LP owned approximately 1.11% of Wayfair worth $78,120,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Wayfair in the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair in the 3rd quarter worth approximately $44,000. Brooklyn Investment Group acquired a new stake in Wayfair in the 3rd quarter worth approximately $50,000. International Assets Investment Management LLC acquired a new stake in Wayfair in the 2nd quarter worth approximately $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Wayfair in the 3rd quarter worth approximately $67,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Price Performance

Shares of W stock opened at $46.24 on Monday. The stock’s fifty day simple moving average is $47.35 and its 200 day simple moving average is $49.70. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -10.30 and a beta of 3.46. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18.

Wayfair (NYSE:W) last announced 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 company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.38) EPS. On average, research analysts anticipate that Wayfair Inc. will post -2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on W. Argus lowered Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. UBS Group dropped their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Wedbush dropped their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada dropped their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Fiona Tan sold 10,040 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 value of $532,722.40. Following the completion of the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at approximately $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 67,868 shares of company stock valued at $3,272,548 in the last 90 days. 26.81% of the stock is owned by corporate insiders.

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.