Los Angeles Capital Management LLC Makes New Investment in Wayfair Inc. $W

Los Angeles Capital Management LLC acquired a new stake in Wayfair Inc. (NYSE:W) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,660 shares of the company’s stock, valued at approximately $3,000,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Financial Services Inc acquired a new position in Wayfair in the 2nd quarter worth approximately $1,007,000. Tabor Asset Management LP increased its stake in shares of Wayfair by 241.1% in the second quarter. Tabor Asset Management LP now owns 102,391 shares of the company’s stock worth $5,236,000 after acquiring an additional 72,376 shares during the period. Penserra Capital Management LLC lifted its position in Wayfair by 9.1% during the second quarter. Penserra Capital Management LLC now owns 120,516 shares of the company’s stock valued at $6,162,000 after purchasing an additional 10,058 shares during the period. Savant Capital LLC purchased a new stake in Wayfair in the second quarter valued at $618,000. Finally, Rothschild & Co Wealth Management UK Ltd grew its position in Wayfair by 10.8% during the 2nd quarter. Rothschild & Co Wealth Management UK Ltd now owns 245,603 shares of the company’s stock worth $12,560,000 after purchasing an additional 23,855 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on W shares. JPMorgan Chase & Co. raised their target price on Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Gordon Haskett upgraded shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of Wayfair from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a research report on Tuesday, August 5th. Finally, BMO Capital Markets set a $110.00 target price on shares of Wayfair and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.96.

Insider Buying and Selling

In related news, CTO Fiona Tan sold 6,347 shares of Wayfair stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction of $638,127.38. Following the transaction, the chief technology officer owned 198,860 shares in the company, valued at approximately $19,993,384.40. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Niraj Shah sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.10, for a total value of $3,153,000.00. Following the transaction, the chief executive officer directly owned 139,137 shares in the company, valued at $14,623,298.70. This trade represents a 17.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,224,854 shares of company stock worth $101,371,042 in the last three months. Company insiders own 21.91% of the company’s stock.

Wayfair Price Performance

NYSE W opened at $112.52 on Tuesday. The stock’s 50 day simple moving average is $88.23 and its 200-day simple moving average is $65.89. The company has a market cap of $14.67 billion, a PE ratio of -43.95 and a beta of 3.03. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $114.92.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.01 billion. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. On average, equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Wayfair 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.