Wayfair Inc. $W Shares Purchased by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP grew its stake in Wayfair Inc. (NYSE:W) by 42.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,000,000 shares of the company’s stock after acquiring an additional 1,200,000 shares during the quarter. Wayfair comprises approximately 3.0% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 15th biggest position. Southpoint Capital Advisors LP owned about 3.15% of Wayfair worth $128,120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in W. Perbak Capital Partners LLP purchased a new stake in Wayfair in the first quarter valued at $348,000. Maverick Capital Ltd. acquired a new stake in Wayfair in the 1st quarter valued at approximately $2,153,000. Graham Capital Management L.P. raised its position in Wayfair by 20.0% in the first quarter. Graham Capital Management L.P. now owns 50,471 shares of the company’s stock valued at $1,617,000 after purchasing an additional 8,413 shares during the period. Benchstone Capital Management LP lifted its stake in Wayfair by 11.0% during the first quarter. Benchstone Capital Management LP now owns 404,585 shares of the company’s stock worth $12,959,000 after purchasing an additional 40,213 shares in the last quarter. Finally, Beck Bode LLC purchased a new position in shares of Wayfair during the first quarter worth $13,322,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

W stock opened at $74.51 on Tuesday. The company’s 50 day moving average price is $65.31 and its 200 day moving average price is $46.44. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of -31.05 and a beta of 2.95. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $81.94.

Wayfair (NYSE:W) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 price objective (up previously from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Canaccord Genuity Group lifted their target price on Wayfair from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Bank of America boosted their price target on shares of Wayfair from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Wells Fargo & Company set a $84.00 price objective on shares of Wayfair and gave the company an “overweight” rating in a research note on Tuesday, August 5th. Finally, Zelman & Associates lifted their price objective on shares of Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.19.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of Wayfair 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 completion of the sale, the chief executive officer directly owned 459,137 shares of the company’s stock, valued at $36,763,099.59. The trade was a 15.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $6,805,950.00. Following the completion of the transaction, the insider owned 459,073 shares in the company, valued at approximately $36,757,975.11. The trade was a 15.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,240,204 shares of company stock valued at $81,706,986. Corporate insiders own 21.91% of the company’s stock.

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.