Wayfair Inc. $W Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its position in shares of Wayfair Inc. (NYSE:W) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,741 shares of the company’s stock after purchasing an additional 6,570 shares during the period. Legal & General Group Plc owned about 0.11% of Wayfair worth $7,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in W. Alyeska Investment Group L.P. boosted its position 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 valued at $174,969,000 after purchasing an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP lifted its stake in Wayfair by 42.9% in the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after buying an additional 1,200,000 shares during the last quarter. Beck Bode LLC purchased a new stake in Wayfair in the first quarter valued at approximately $13,322,000. MetLife Investment Management LLC boosted its holdings in shares of Wayfair by 18,338.6% in the first quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock valued at $9,881,000 after acquiring an additional 306,805 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Wayfair by 111.7% during the first 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 during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Stock Performance

W stock opened at $101.90 on Wednesday. The stock has a market capitalization of $13.28 billion, a PE ratio of -39.81 and a beta of 3.25. The company has a fifty day moving average of $94.53 and a 200-day moving average of $73.99. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92.

Wayfair (NYSE:W) last posted its quarterly 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 firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. Equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on W. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wayfair in a report on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of Wayfair from $91.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Evercore ISI lifted their price objective on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Argus increased their target price on shares of Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Guggenheim raised their price target on Wayfair from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.57.

Insider Buying and Selling

In other news, insider Steven Conine sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the insider directly owned 729,073 shares of the company’s stock, valued at $77,223,412.16. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00. Following the transaction, the chief executive officer directly owned 729,137 shares in the company, valued at $77,222,899.67. This represents a 17.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 955,959 shares of company stock valued at $88,260,274. Company insiders own 21.91% of the company’s stock.

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.