Cinctive Capital Management LP Invests $4.46 Million in Wayfair Inc. (NYSE:W)

Cinctive Capital Management LP purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 79,458 shares of the company’s stock, valued at approximately $4,464,000. Cinctive Capital Management LP owned approximately 0.06% of Wayfair at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in W. Renaissance Technologies LLC boosted its position in Wayfair by 28.0% during the 2nd 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 period. Wolf Hill Capital Management LP lifted its stake 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 buying an additional 432,404 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Wayfair during the third quarter valued at $78,652,000. Charles Schwab Investment Management Inc. grew its position in shares of Wayfair by 35.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after acquiring an additional 253,681 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in shares of Wayfair by 46.2% in the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares during the period. 89.67% of the stock is currently owned by institutional investors.

Wayfair Trading Up 3.9 %

Shares of Wayfair stock opened at $48.06 on Tuesday. The company has a market cap of $6.02 billion, a price-to-earnings ratio of -10.70 and a beta of 3.44. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The company’s fifty day simple moving average is $47.25 and its 200-day simple moving average is $49.56.

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 the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm posted ($1.38) EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on W shares. BMO Capital Markets reduced their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Robert W. Baird reduced their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Loop Capital raised their price target on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Mizuho reduced their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus lowered their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair 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 sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 6,055 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total value of $321,338.85. Following the completion of the sale, the insider now owns 62,817 shares in the company, valued at approximately $3,333,698.19. This represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,868 shares of company stock worth $3,272,548 over the last 90 days. Corporate insiders own 23.50% of the company’s stock.

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.