Cinctive Capital Management LP Increases Position in Wayfair Inc. (NYSE:W)

Cinctive Capital Management LP boosted its holdings in shares of Wayfair Inc. (NYSE:W) by 31.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,244 shares of the company’s stock after purchasing an additional 24,786 shares during the quarter. Cinctive Capital Management LP owned approximately 0.08% of Wayfair worth $4,620,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Wayfair by 13.6% during the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Wayfair by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company’s stock valued at $68,584,000 after acquiring an additional 22,078 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after acquiring an additional 201,157 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Wayfair by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock worth $44,733,000 after purchasing an additional 35,057 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wayfair

In related news, CTO Fiona Tan sold 8,249 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the transaction, the chief financial officer now owns 144,474 shares of the company’s stock, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,577 shares of company stock valued at $6,792,672 in the last 90 days. Company insiders own 26.81% of the company’s stock.

Wayfair Trading Up 5.5 %

W opened at $33.70 on Thursday. The stock’s 50-day moving average price is $40.41 and its 200 day moving average price is $45.01. Wayfair Inc. has a 12-month low of $28.47 and a 12-month high of $76.18. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -8.38 and a beta of 3.44.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. On average, research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on W. Canaccord Genuity Group dropped their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Loop Capital cut their price objective on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Wedbush reiterated a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Finally, Bank of America lowered their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $56.81.

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.