AQR Capital Management LLC Cuts Holdings in Wayfair Inc. (NYSE:W)

AQR Capital Management LLC decreased its stake in Wayfair Inc. (NYSE:W) by 54.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,654 shares of the company’s stock after selling 242,110 shares during the period. AQR Capital Management LLC’s holdings in Wayfair were worth $10,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in W. Capital World Investors lifted its position in Wayfair by 8.7% in the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after buying an additional 962,307 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after acquiring an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP raised its stake in shares of Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Wayfair in the 1st quarter valued at $13,690,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus lowered Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Guggenheim restated a “buy” rating and set a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Truist Financial decreased their price target on Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Twelve investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $52.62, for a total transaction of $526,200.00. Following the sale, the chief executive officer now owns 209,137 shares of the company’s stock, valued at $11,004,788.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Niraj Shah sold 10,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $52.62, for a total value of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares of the company’s stock, valued at $11,004,788.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value 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. The disclosure for this sale can be found here. Insiders sold a total of 15,826 shares of company stock valued at $842,890 in the last three months. Company insiders own 26.81% of the company’s stock.

Wayfair Stock Down 0.4 %

W opened at $53.04 on Thursday. Wayfair Inc. has a 52 week low of $38.02 and a 52 week high of $76.18. The stock has a market cap of $6.38 billion, a PE ratio of -9.90 and a beta of 3.40. The business has a 50 day moving average of $46.72 and a 200-day moving average of $54.43.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company earned ($1.27) earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that Wayfair Inc. will post -2.68 EPS for the current 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.