Point72 DIFC Ltd Acquires New Position in Wayfair Inc. (NYSE:W)

Point72 DIFC Ltd bought a new position in shares of Wayfair Inc. (NYSE:W) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,192 shares of the company’s stock, valued at approximately $1,803,000.

Several other large investors have also recently modified their holdings of the business. Capital World Investors raised its stake in shares of Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares during the period. Norges Bank purchased a new position in Wayfair during the 4th quarter valued at about $47,374,000. Renaissance Technologies LLC increased its position in shares of Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after buying an additional 675,271 shares during the period. Wolf Hill Capital Management LP lifted its holdings in shares of Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Wayfair in the fourth quarter worth about $23,552,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 owns 151,802 shares in the company, valued at approximately $7,502,054.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Thomas Netzer sold 1,011 shares of the firm’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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold 41,113 shares of company stock valued at $2,126,623 over the last ninety days. 26.81% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on W shares. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada lowered their price objective on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $58.00 in a report on Thursday, August 1st. Finally, Truist Financial cut their price objective on Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Twelve 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 stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and a consensus price target of $65.63.

Wayfair Stock Up 1.9 %

Shares of NYSE W opened at $54.05 on Wednesday. The firm’s fifty day moving average is $46.41 and its 200 day moving average is $54.70. Wayfair Inc. has a 52 week low of $38.02 and a 52 week high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.27) EPS. Equities research analysts expect that Wayfair Inc. will post -2.66 EPS for the current fiscal 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.