Shellback Capital LP Sells 129,500 Shares of Wayfair Inc. (NYSE:W)

Shellback Capital LP reduced its position in Wayfair Inc. (NYSE:W) by 43.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,500 shares of the company’s stock after selling 129,500 shares during the period. Shellback Capital LP owned approximately 0.14% of Wayfair worth $8,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Capital World Investors lifted its position in Wayfair by 8.7% during the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Wayfair in the fourth quarter valued at about $47,374,000. Renaissance Technologies LLC boosted its stake 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 acquiring an additional 675,271 shares during the period. Wolf Hill Capital Management LP grew its position in shares of Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in Wayfair during the 4th quarter valued at approximately $23,552,000. Institutional investors own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $52.62, for a total transaction of $526,200.00. Following the transaction, the chief executive officer now owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $52.62, for a total value of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares of the company’s stock, valued at approximately $11,004,788.94. The disclosure for this sale can be found here. Insiders sold 41,113 shares of company stock valued at $2,126,623 in the last quarter. 26.81% of the stock is currently owned by corporate insiders.

Wayfair Stock Up 4.8 %

Shares of W stock opened at $54.15 on Friday. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of -10.10 and a beta of 3.40. Wayfair Inc. has a 52-week low of $38.02 and a 52-week high of $76.18. The company’s 50 day moving average is $46.36 and its 200 day moving average is $54.68.

Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.27) EPS. Analysts anticipate that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

W has been the topic of a number of research reports. Piper Sandler reduced their price target on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays dropped their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Truist Financial reduced their price objective on Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada lowered their target price on Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.83.

Wayfair 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.