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

IFP Advisors Inc grew its holdings in shares of Wayfair Inc. (NYSE:W) by 49.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,869 shares of the company’s stock after buying an additional 617 shares during the period. IFP Advisors Inc’s holdings in Wayfair were worth $96,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of W. Alyeska Investment Group L.P. boosted its holdings in shares of Wayfair by 681.8% during 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 buying an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of Wayfair by 42.9% during the 1st 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 in the last quarter. Beck Bode LLC bought a new stake in shares of Wayfair during the 1st quarter valued at $13,322,000. MetLife Investment Management LLC boosted its holdings in shares of Wayfair by 18,338.6% during the 1st quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock valued at $9,881,000 after buying an additional 306,805 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of 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 purchasing an additional 276,471 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

Insider Activity

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the transaction, the chief executive officer owned 544,137 shares in the company, valued at approximately $42,660,340.80. This represents a 26.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Conine sold 199,473 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the transaction, the insider owned 544,073 shares in the company, valued at $42,655,323.20. This represents a 26.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 790,000 shares of company stock worth $63,585,337 in the last 90 days. Company insiders own 21.91% of the company’s stock.

Wayfair Stock Performance

W opened at $82.42 on Monday. The stock has a market capitalization of $10.69 billion, a P/E ratio of -34.34 and a beta of 3.03. The company’s 50-day simple moving average is $81.92 and its two-hundred day simple moving average is $57.87. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $91.77.

Wayfair (NYSE:W) last posted its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. Wayfair’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. Research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on W. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Jefferies Financial Group lifted their price target on Wayfair from $91.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wall Street Zen raised Wayfair from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Mizuho lifted their price target on Wayfair from $50.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Truist Financial lifted their price target on Wayfair from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target 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.