AXQ Capital LP Invests $364,000 in Wayfair Inc. (NYSE:W)

AXQ Capital LP bought a new position in Wayfair Inc. (NYSE:W) in the 4th quarter, Holdings Channel.com reports. The firm bought 8,206 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. J.Safra Asset Management Corp raised its position in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the period. GAMMA Investing LLC increased its position in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. Jones Financial Companies Lllp increased its position in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Arizona State Retirement System increased its position in shares of Wayfair by 2.4% during the 4th quarter. Arizona State Retirement System now owns 26,951 shares of the company’s stock valued at $1,194,000 after purchasing an additional 624 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wayfair during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on W. Bank of America reduced their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Piper Sandler set a $58.00 target price on Wayfair and gave the stock an “overweight” rating in a research report on Friday, February 21st. Loop Capital cut their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group cut their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada cut their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Fourteen equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Stock Up 6.7 %

W stock opened at $33.67 on Monday. The business’s fifty day moving average is $41.99 and its 200-day moving average is $45.52. The company has a market cap of $4.27 billion, a P/E ratio of -8.37 and a beta of 3.44. Wayfair Inc. has a twelve month low of $29.68 and a twelve month high of $76.18.

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

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 4,521 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.88, for a total transaction of $211,944.48. Following the completion of the transaction, the insider now owns 63,568 shares in the company, valued at approximately $2,980,067.84. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 8,249 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the transaction, the chief technology officer now owns 96,557 shares of the company’s stock, valued at approximately $4,336,374.87. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,189 shares of company stock valued at $4,810,693. 26.81% of the stock is owned by company 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.