Wayfair Inc. (NYSE:W) Stock Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of Wayfair Inc. (NYSE:W) by 28.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,086,569 shares of the company’s stock after acquiring an additional 675,271 shares during the quarter. Renaissance Technologies LLC owned 2.56% of Wayfair worth $162,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of W. WealthPlan Investment Management LLC boosted its position in shares of Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after buying an additional 271 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Wayfair by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after purchasing an additional 360 shares during the period. QRG Capital Management Inc. lifted its position in shares of Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Wayfair during the first quarter worth approximately $27,000. Finally, Teacher Retirement System of Texas grew its position in Wayfair by 3.8% during the fourth quarter. Teacher Retirement System of Texas now owns 12,514 shares of the company’s stock valued at $772,000 after purchasing an additional 454 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Trading Up 5.7 %

Shares of NYSE:W opened at $47.35 on Monday. The firm has a market capitalization of $5.85 billion, a PE ratio of -8.83 and a beta of 3.40. Wayfair Inc. has a 1-year low of $38.02 and a 1-year high of $76.18. The business’s 50 day moving average is $46.78 and its 200-day moving average is $55.11.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the company earned ($1.27) EPS. Wayfair’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Wayfair Inc. will post -2.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price objective on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Citigroup reduced their target price on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Raymond James cut their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a report on Friday, August 2nd. Finally, Loop Capital decreased their price objective on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a report on Friday, June 21st. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.63.

Insider Buying and Selling

In other news, insider Jon Blotner sold 4,395 shares of Wayfair stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the transaction, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wayfair news, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the transaction, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Netzer sold 6,625 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the completion of the transaction, the chief operating officer now owns 157,239 shares in the company, valued at approximately $7,978,306.86. The disclosure for this sale can be found here. Insiders sold 40,102 shares of company stock worth $2,076,659 in the last 90 days. 26.81% of the stock is owned by company insiders.

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.