PDT Partners LLC Makes New Investment in Wayfair Inc. (NYSE:W)

PDT Partners LLC acquired a new position in Wayfair Inc. (NYSE:W) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,422 shares of the company’s stock, valued at approximately $2,046,000.

A number of other institutional investors also recently made changes to their positions in the business. Highland Peak Capital LLC bought a new position in Wayfair during the 2nd quarter worth approximately $5,165,000. Sei Investments Co. grew its holdings in shares of Wayfair by 32.8% in the second quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after purchasing an additional 32,968 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Wayfair in the second quarter worth approximately $8,189,000. Emerald Advisers LLC bought a new stake in Wayfair during the 2nd quarter valued at $686,000. Finally, Signaturefd LLC raised its holdings in Wayfair by 56.4% during the 3rd quarter. Signaturefd LLC now owns 321,098 shares of the company’s stock valued at $18,039,000 after buying an additional 115,778 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on W. Stifel Nicolaus cut their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. StockNews.com lowered Wayfair from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Wedbush cut their price objective on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler decreased their target price on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

Shares of NYSE:W opened at $46.24 on Friday. The business has a fifty day moving average price of $47.35 and a 200-day moving average price of $49.85. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.38) earnings per share. As a group, equities analysts anticipate that Wayfair Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on 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 owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 6,055 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total value of $321,338.85. Following the transaction, the insider now directly owns 62,817 shares in the company, valued at $3,333,698.19. The trade was a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,868 shares of company stock valued at $3,272,548. 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.