Tidal Investments LLC Has $1.22 Million Position in Wayfair Inc. (NYSE:W)

Tidal Investments LLC grew its position in Wayfair Inc. (NYSE:W) by 18.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 21,665 shares of the company’s stock after purchasing an additional 3,320 shares during the quarter. Tidal Investments LLC’s holdings in Wayfair were worth $1,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Tabor Asset Management LP increased its stake in Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after purchasing an additional 15,932 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Wayfair by 100.0% in the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares during the period. Wellington Management Group LLP increased its position in shares of Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after acquiring an additional 201,157 shares in the last quarter. Highland Peak Capital LLC acquired a new stake in shares of Wayfair during the second quarter worth $5,165,000. Finally, Sei Investments Co. lifted its position in Wayfair by 32.8% in the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock valued at $7,035,000 after acquiring an additional 32,968 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Wayfair Trading Down 9.9 %

NYSE W opened at $45.45 on Thursday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of -10.12 and a beta of 3.44. The company has a 50 day moving average of $46.50 and a 200-day moving average of $48.77. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.38) earnings per share. On average, equities research analysts forecast that Wayfair Inc. will post -2.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

W has been the topic of several recent research reports. Stifel Nicolaus dropped their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets decreased their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a research report on Thursday, September 26th. Finally, Loop Capital increased their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the transaction, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. The trade was a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,896 shares of company stock valued at $4,869,409 over the last quarter. 26.81% of the stock is owned by corporate 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.