Greenland Capital Management LP Purchases New Position in Wayfair Inc. (NYSE:W)

Greenland Capital Management LP acquired a new stake in shares of Wayfair Inc. (NYSE:W) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,200 shares of the company’s stock, valued at approximately $496,000.

Several other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in Wayfair by 13.6% in 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 period. Norges Bank bought a new position in shares of Wayfair during the 4th quarter valued at about $31,472,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Wayfair in the 4th quarter valued at approximately $30,735,000. Renaissance Technologies LLC increased its stake in Wayfair by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock worth $169,952,000 after purchasing an additional 581,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after buying an additional 327,603 shares during the period. Institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total value of $1,453,500.00. Following the completion of the sale, the insider now owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares in the company, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,532 shares of company stock worth $5,090,232. Insiders own 23.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on W. Piper Sandler set a $58.00 price target on shares of Wayfair and gave the company an “overweight” rating in a report on Friday, February 21st. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Wayfair in a report on Monday, March 10th. Raymond James set a $60.00 price target on Wayfair and gave the company a “strong-buy” rating in a report on Friday, February 21st. Canaccord Genuity Group decreased their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Citigroup cut Wayfair from a “buy” rating to a “neutral” rating and cut their target price for the company from $58.00 to $28.00 in a research note on Friday, April 4th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.84.

Wayfair Trading Down 12.3 %

W opened at $24.07 on Wednesday. The stock’s fifty day simple moving average is $38.08 and its 200 day simple moving average is $44.10. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $76.18. The stock has a market cap of $3.05 billion, a PE ratio of -5.99 and a beta of 3.72.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share 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 the consensus estimate of $3.07 billion. Equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

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.