Atreides Management LP Has $58.83 Million Holdings in Wayfair Inc. (NYSE:W)

Atreides Management LP grew its stake in shares of Wayfair Inc. (NYSE:WFree Report) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 971,206 shares of the company’s stock after buying an additional 16,932 shares during the quarter. Wayfair makes up 1.9% of Atreides Management LP’s holdings, making the stock its 15th biggest holding. Atreides Management LP owned approximately 0.84% of Wayfair worth $58,826,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC raised its holdings in shares of Wayfair by 20.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 342,407 shares of the company’s stock valued at $20,740,000 after purchasing an additional 58,126 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in shares of Wayfair in the 3rd quarter worth about $383,000. Hanseatic Management Services Inc. acquired a new stake in shares of Wayfair in the 3rd quarter worth about $554,000. Algert Global LLC raised its holdings in shares of Wayfair by 9.0% in the 3rd quarter. Algert Global LLC now owns 22,730 shares of the company’s stock worth $1,377,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Wayfair by 6.5% in the 3rd quarter. Northern Trust Corp now owns 375,336 shares of the company’s stock worth $22,734,000 after acquiring an additional 23,022 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stephens reduced their price objective on shares of Wayfair from $105.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Wedbush reissued an “outperform” rating and set a $70.00 target price on shares of Wayfair in a research report on Friday, February 23rd. Evercore ISI increased their target price on shares of Wayfair from $55.00 to $60.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday, February 22nd. Finally, Barclays cut their price objective on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.68.

View Our Latest Stock Analysis on W

Insider Buying and Selling

In related news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the transaction, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Niraj Shah sold 10,000 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $55.85, for a total transaction of $558,500.00. Following the transaction, the chief executive officer now directly owns 269,137 shares in the company, valued at $15,031,301.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 3,492 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the sale, the insider now directly owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,310 shares of company stock valued at $3,328,616. Company insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

Shares of W stock traded up $1.74 during mid-day trading on Thursday, reaching $59.43. 4,099,163 shares of the company’s stock traded hands, compared to its average volume of 4,798,003. Wayfair Inc. has a 12 month low of $29.51 and a 12 month high of $90.71. The firm has a 50 day moving average price of $55.24 and a two-hundred day moving average price of $56.53. The firm has a market capitalization of $7.01 billion, a PE ratio of -8.85 and a beta of 3.32.

About Wayfair

(Free Report)

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, d├ęcor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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