Olympiad Research LP Invests $260,000 in Wayfair Inc. (NYSE:W)

Olympiad Research LP acquired a new position in shares of Wayfair Inc. (NYSE:W) in the 4th quarter, Holdings Channel.com reports. The fund acquired 5,865 shares of the company’s stock, valued at approximately $260,000.

Several other large investors have also added to or reduced their stakes in W. Southpoint Capital Advisors LP acquired a new stake in Wayfair in the third quarter valued at $78,652,000. Holocene Advisors LP increased its position in Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after acquiring an additional 1,213,896 shares during the period. Baillie Gifford & Co. increased its holdings in Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after buying an additional 740,641 shares during the period. Groupama Asset Managment increased its holdings in Wayfair by 100.0% in the 3rd 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. Finally, Charles Schwab Investment Management Inc. increased its holdings in Wayfair by 35.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after buying an additional 253,681 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of W stock opened at $41.92 on Monday. The firm has a 50-day moving average of $46.22 and a 200-day moving average of $46.55. The company has a market cap of $5.25 billion, a P/E ratio of -10.43 and a beta of 3.43. Wayfair Inc. has a one year low of $37.35 and a one year 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 the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. As a group, research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares in the company, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Blotner sold 5,669 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the transaction, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock worth $7,830,018 over the last quarter. 26.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on W shares. Stifel Nicolaus decreased their price target on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada reduced their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets upped their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Loop Capital cut their target price on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.40.

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.