8,271 Shares in Wayfair Inc. $W Bought by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in shares of Wayfair Inc. (NYSE:W) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,271 shares of the company’s stock, valued at approximately $739,000. Wayfair makes up approximately 0.9% of Bryce Point Capital LLC’s holdings, making the stock its 2nd largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in W. Savant Capital LLC grew its stake in shares of Wayfair by 82.8% during the third quarter. Savant Capital LLC now owns 22,091 shares of the company’s stock worth $1,973,000 after acquiring an additional 10,005 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Wayfair by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,246 shares of the company’s stock worth $1,719,000 after purchasing an additional 1,392 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Wayfair by 28,200.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares during the last quarter. State of Wyoming purchased a new stake in Wayfair during the 3rd quarter worth approximately $483,000. Finally, Principal Financial Group Inc. increased its stake in Wayfair by 176.7% during the 3rd quarter. Principal Financial Group Inc. now owns 45,663 shares of the company’s stock valued at $4,079,000 after purchasing an additional 29,163 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Steven Conine sold 150,000 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $108.87, for a total value of $16,330,500.00. Following the completion of the transaction, the insider directly owned 289,073 shares in the company, valued at $31,471,377.51. The trade was a 34.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Fiona Tan sold 9,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $119.00, for a total transaction of $1,071,000.00. Following the sale, the chief technology officer directly owned 200,328 shares in the company, valued at $23,839,032. This trade represents a 4.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 950,494 shares of company stock valued at $100,127,813 in the last quarter. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of Wayfair from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Gordon Haskett raised Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Tuesday, October 28th. Stifel Nicolaus set a $100.00 price target on Wayfair in a research note on Wednesday, October 29th. BMO Capital Markets set a $110.00 price objective on Wayfair and gave the company a “market perform” rating in a report on Wednesday, October 29th. Finally, Citigroup lifted their target price on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $107.21.

Wayfair Stock Up 0.3%

Shares of W opened at $92.86 on Tuesday. The stock’s 50-day moving average price is $103.70 and its 200-day moving average price is $92.76. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of -36.27, a PEG ratio of 7.61 and a beta of 3.36. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $119.98.

Wayfair Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.