IFP Advisors Inc Acquires 617 Shares of Wayfair Inc. $W

IFP Advisors Inc lifted its holdings in Wayfair Inc. (NYSE:W) by 49.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,869 shares of the company’s stock after purchasing an additional 617 shares during the period. IFP Advisors Inc’s holdings in Wayfair were worth $96,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in W. Alyeska Investment Group L.P. lifted its stake in shares of Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP lifted its stake in shares of Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after purchasing an additional 1,200,000 shares during the period. Beck Bode LLC purchased a new stake in Wayfair in the 1st quarter worth approximately $13,322,000. MetLife Investment Management LLC increased its holdings in Wayfair by 18,338.6% in the 1st quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock worth $9,881,000 after acquiring an additional 306,805 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Wayfair by 111.7% in the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after acquiring an additional 276,471 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the sale, the chief executive officer directly owned 374,137 shares of the company’s stock, valued at $32,471,350.23. This trade represents a 18.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 85,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the transaction, the insider directly owned 374,073 shares of the company’s stock, valued at approximately $32,465,795.67. This trade represents a 18.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 790,000 shares of company stock valued at $63,585,337. Insiders own 21.91% of the company’s stock.

Wayfair Price Performance

Shares of W opened at $82.42 on Monday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $91.77. The company has a 50 day simple moving average of $81.92 and a two-hundred day simple moving average of $57.87. The firm has a market cap of $10.69 billion, a P/E ratio of -34.34 and a beta of 3.03.

Wayfair (NYSE:W) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Wayfair from $84.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Wayfair in a report on Wednesday, August 27th. Finally, Wall Street Zen raised shares of Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

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.