Concentric Capital Strategies LP Makes New Investment in Wayfair Inc. $W

Concentric Capital Strategies LP purchased a new stake in Wayfair Inc. (NYSE:W) in the fourth quarter, HoldingsChannel reports. The firm purchased 110,305 shares of the company’s stock, valued at approximately $11,076,000.

Other hedge funds have also modified their holdings of the company. Optas LLC boosted its stake in Wayfair by 2.1% during the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock worth $508,000 after acquiring an additional 106 shares during the last quarter. Larson Financial Group LLC increased its stake in Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after purchasing an additional 120 shares in the last quarter. Wedmont Private Capital raised its holdings in Wayfair by 3.3% in the fourth quarter. Wedmont Private Capital now owns 3,774 shares of the company’s stock worth $415,000 after purchasing an additional 121 shares during the period. True Wealth Design LLC raised its holdings in Wayfair by 37.7% in the fourth quarter. True Wealth Design LLC now owns 449 shares of the company’s stock worth $45,000 after purchasing an additional 123 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Wayfair by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock worth $544,000 after purchasing an additional 124 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jon Blotner sold 4,790 shares of Wayfair stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total value of $345,790.10. Following the sale, the insider owned 111,158 shares of the company’s stock, valued at approximately $8,024,496.02. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value of $8,746,727.50. Following the sale, the director owned 436,212 shares in the company, valued at $33,806,430. The trade was a 20.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 463,785 shares of company stock worth $35,864,224 in the last quarter. Corporate insiders own 18.44% of the company’s stock.

Wayfair Stock Down 1.9%

Shares of W stock opened at $81.62 on Thursday. Wayfair Inc. has a 12 month low of $47.21 and a 12 month high of $119.98. The company’s fifty day simple moving average is $71.17 and its 200-day simple moving average is $84.94. The firm has a market cap of $10.77 billion, a PE ratio of -34.88, a P/E/G ratio of 4.37 and a beta of 3.02.

Wayfair (NYSE:W) last released its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Needham & Company LLC lowered their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Mizuho reduced their target price on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Wells Fargo & Company lowered their price target on Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 1st. UBS Group dropped their price target on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Royal Bank Of Canada dropped their price target on Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.68.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.