Holocene Advisors LP Grows Stake in Wayfair Inc. (NYSE:W)

Holocene Advisors LP grew its position in Wayfair Inc. (NYSE:W) by 5,699.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,235,193 shares of the company’s stock after purchasing an additional 1,213,896 shares during the quarter. Holocene Advisors LP owned about 0.99% of Wayfair worth $69,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cinctive Capital Management LP acquired a new stake in shares of Wayfair during the third quarter worth $4,464,000. Atom Investors LP lifted its stake in shares of Wayfair by 13.0% during the third quarter. Atom Investors LP now owns 29,738 shares of the company’s stock worth $1,671,000 after buying an additional 3,427 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair during the third quarter worth $44,000. Southpoint Capital Advisors LP acquired a new position in Wayfair during the third quarter valued at $78,652,000. Finally, PDT Partners LLC acquired a new position in Wayfair during the third quarter valued at $2,046,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Price Performance

Wayfair stock opened at $48.06 on Tuesday. The firm has a 50 day simple moving average of $47.25 and a 200-day simple moving average of $49.56. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of -10.70 and a beta of 3.44.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned ($1.38) EPS. Equities analysts expect that Wayfair Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 6,055 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 62,817 shares of the company’s stock, valued at $3,333,698.19. This trade represents a 8.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,868 shares of company stock valued at $3,272,548. Company insiders own 23.50% of the company’s stock.

Wall Street Analyst Weigh In

W has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Piper Sandler cut their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. BMO Capital Markets cut their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Finally, Barclays cut their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $60.28.

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.