Octahedron Capital Management L.P. Grows Holdings in Wayfair Inc. (NYSE:W)

Octahedron Capital Management L.P. lifted its holdings in shares of Wayfair Inc. (NYSE:W) by 209.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 96,000 shares of the company’s stock after buying an additional 65,000 shares during the quarter. Wayfair accounts for about 5.1% of Octahedron Capital Management L.P.’s investment portfolio, making the stock its 10th largest holding. Octahedron Capital Management L.P.’s holdings in Wayfair were worth $5,062,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wolf Hill Capital Management LP grew its holdings in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Wayfair by 32.8% during the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock valued at $7,035,000 after purchasing an additional 32,968 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Wayfair by 43.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 182,900 shares of the company’s stock valued at $9,644,000 after buying an additional 55,200 shares during the period. Optimist Retirement Group LLC boosted its position in Wayfair by 14.9% during the 2nd quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after buying an additional 568 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in Wayfair during the 2nd quarter valued at $1,350,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 209,137 shares in the company, valued at approximately $11,004,788.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Jon Blotner sold 4,801 shares of Wayfair stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total value of $244,610.95. Following the completion of the sale, the insider now directly owns 53,152 shares in the company, valued at $2,708,094.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the completion of the sale, the chief executive officer now owns 209,137 shares of the company’s stock, valued at $11,004,788.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,113 shares of company stock worth $2,126,623. 26.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on W shares. Truist Financial dropped their price target on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup dropped their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Barclays dropped their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Twelve investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.63.

Wayfair Price Performance

Shares of NYSE W opened at $52.90 on Friday. Wayfair Inc. has a 1 year low of $38.02 and a 1 year high of $76.18. The stock has a market cap of $6.37 billion, a P/E ratio of -9.87 and a beta of 3.40. The firm has a 50-day moving average of $46.48 and a 200 day moving average of $54.87.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share 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 analyst estimates of $3.18 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.27) EPS. Research analysts expect that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

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.