Wayfair Inc. $W Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC increased its position in shares of Wayfair Inc. (NYSE:W) by 18,338.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,478 shares of the company’s stock after purchasing an additional 306,805 shares during the period. MetLife Investment Management LLC’s holdings in Wayfair were worth $9,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares in the last quarter. GAMMA Investing LLC lifted its position in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $42,000 after acquiring an additional 609 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Wayfair by 15,266.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock valued at $148,000 after acquiring an additional 4,580 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Wayfair in the first quarter valued at $215,000. Finally, Tower Research Capital LLC TRC lifted its position in Wayfair by 3,374.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,332 shares of the company’s stock valued at $325,000 after acquiring an additional 7,121 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

W has been the subject of a number of research reports. Evercore ISI boosted their price target on shares of Wayfair from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, June 24th. Raymond James Financial reissued a “strong-buy” rating on shares of Wayfair in a research report on Tuesday, August 5th. Zelman & Associates boosted their price target on shares of Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a research report on Tuesday, August 5th. Finally, Loop Capital reissued a “sell” rating and issued a $35.00 price target on shares of Wayfair in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.65.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 85,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the completion of the transaction, the insider directly owned 459,073 shares of the company’s stock, valued at $36,757,975.11. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Niraj Shah sold 85,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the transaction, the chief executive officer directly owned 459,137 shares of the company’s stock, valued at $36,763,099.59. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,240,204 shares of company stock valued at $81,706,986 over the last ninety days. Corporate insiders own 21.91% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE:W opened at $72.94 on Wednesday. The company has a 50-day simple moving average of $63.27 and a 200-day simple moving average of $45.64. Wayfair Inc. has a one year low of $20.41 and a one year high of $81.94. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of -30.39 and a beta of 2.92.

Wayfair (NYSE:W) last announced its earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the company posted $0.47 earnings per share. Wayfair’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast 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.