Kennondale Capital Management LLC Buys New Position in Wayfair Inc. (NYSE:W)

Kennondale Capital Management LLC bought a new stake in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,737 shares of the company’s stock, valued at approximately $1,141,000. Wayfair makes up approximately 0.9% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its holdings in Wayfair by 18.3% in the third quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock worth $536,000 after acquiring an additional 1,479 shares in the last quarter. Swiss National Bank boosted its holdings in Wayfair by 0.7% in the third quarter. Swiss National Bank now owns 178,500 shares of the company’s stock worth $10,028,000 after acquiring an additional 1,200 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Wayfair by 35.2% in 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 in the last quarter. Cerity Partners LLC bought a new position in Wayfair in the third quarter worth approximately $1,070,000. Finally, Algert Global LLC boosted its holdings in Wayfair by 83.1% in the third quarter. Algert Global LLC now owns 36,130 shares of the company’s stock worth $2,030,000 after acquiring an additional 16,394 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on W shares. Canaccord Genuity Group dropped their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Stifel Nicolaus dropped their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Wayfair in a research report on Friday, February 21st. Bank of America decreased their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Finally, Raymond James set a $60.00 price target on Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $56.81.

Wayfair Price Performance

W opened at $32.06 on Tuesday. The firm has a market capitalization of $4.07 billion, a P/E ratio of -7.97 and a beta of 3.44. Wayfair Inc. has a one year low of $31.00 and a one year high of $76.18. The company has a fifty day moving average price of $43.06 and a 200-day moving average price of $45.81.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 4,966 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.93, for a total transaction of $223,122.38. Following the transaction, the insider now directly owns 68,089 shares of the company’s stock, valued at approximately $3,059,238.77. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the sale, the insider now owns 602,573 shares of the company’s stock, valued at $27,567,714.75. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,189 shares of company stock valued at $6,183,193 over the last three months. 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.