Wayfair Inc. (NYSE:W) is Highland Peak Capital LLC’s 10th Largest Position

Highland Peak Capital LLC lowered its stake in shares of Wayfair Inc. (NYSE:W) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,773 shares of the company’s stock after selling 2,180 shares during the quarter. Wayfair accounts for about 2.4% of Highland Peak Capital LLC’s portfolio, making the stock its 10th largest position. Highland Peak Capital LLC owned 0.08% of Wayfair worth $5,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Wayfair during the 3rd quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in shares of Wayfair in the second quarter worth about $58,000. Comerica Bank boosted its position in shares of Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in Wayfair in the second quarter valued at $109,000. Finally, Quarry LP raised its stake in shares of Wayfair by 880.0% in the second quarter. Quarry LP now owns 2,548 shares of the company’s stock worth $134,000 after acquiring an additional 2,288 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,868 shares of company stock valued at $2,003,248. Insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE W opened at $42.39 on Thursday. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18. The firm’s 50-day moving average price is $48.02 and its 200-day moving average price is $51.14.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.38) earnings per share. Analysts anticipate that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on W. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Truist Financial dropped their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. The Goldman Sachs Group cut their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average target price 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.