Atreides Management LP Has $78.12 Million Stock Holdings in Wayfair Inc. (NYSE:W)

Atreides Management LP lessened its position in shares of Wayfair Inc. (NYSE:W) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,390,537 shares of the company’s stock after selling 156,849 shares during the quarter. Wayfair comprises about 2.0% of Atreides Management LP’s investment portfolio, making the stock its 15th largest position. Atreides Management LP’s holdings in Wayfair were worth $78,120,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP increased its holdings in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in Wayfair in the third quarter valued at about $78,652,000. Charles Schwab Investment Management Inc. increased its holdings in Wayfair by 35.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after purchasing an additional 253,681 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after purchasing an additional 227,908 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,868 shares of company stock valued at $3,272,548. Insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

W has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Truist Financial dropped their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, November 4th. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Loop Capital upped their price objective on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, StockNews.com downgraded Wayfair from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Performance

NYSE:W opened at $46.24 on Monday. The company has a market cap of $5.79 billion, a PE ratio of -10.30 and a beta of 3.46. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18. The stock has a 50-day simple moving average of $47.35 and a 200 day simple moving average of $49.70.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.38) earnings per share. On average, research analysts predict that Wayfair Inc. will post -2.89 earnings per share for the current fiscal year.

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.