AlphaQuest LLC Boosts Stake in Wayfair Inc. $W

AlphaQuest LLC increased its stake in shares of Wayfair Inc. (NYSE:W) by 16.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,448 shares of the company’s stock after purchasing an additional 1,575 shares during the period. AlphaQuest LLC’s holdings in Wayfair were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in W. GAMMA Investing LLC boosted its position in shares of Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after purchasing an additional 609 shares during the period. Parallel Advisors LLC lifted its holdings in Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after buying an additional 1,097 shares in the last quarter. IFP Advisors Inc lifted its holdings in Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock worth $96,000 after buying an additional 617 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of Wayfair in the 2nd quarter valued at $102,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Wayfair by 15,266.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock valued at $148,000 after purchasing an additional 4,580 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Up 23.3%

Shares of NYSE:W opened at $106.56 on Wednesday. The company has a market cap of $13.82 billion, a price-to-earnings ratio of -44.40 and a beta of 3.03. The firm’s 50-day simple moving average is $83.19 and its 200-day simple moving average is $60.80. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $108.44.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Mizuho increased their target price on shares of Wayfair from $50.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of Wayfair in a research report on Friday. Zelman & Associates raised their price objective on shares of Wayfair from $85.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Evercore ISI raised their price objective on shares of Wayfair from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Finally, Royal Bank Of Canada raised their price objective on shares of Wayfair from $25.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $78.73.

Insider Activity

In other Wayfair news, insider Steven Conine sold 120,000 shares of Wayfair stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the completion of the transaction, the insider owned 169,073 shares in the company, valued at approximately $13,892,728.41. The trade was a 41.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 120,000 shares of Wayfair stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the transaction, the chief executive officer owned 169,137 shares of the company’s stock, valued at approximately $13,897,987.29. The trade was a 41.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,200,000 shares of company stock valued at $97,390,637 in the last quarter. 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.