Odyssean LLC Takes Position in Wayfair Inc. $W

Odyssean LLC acquired a new stake in shares of Wayfair Inc. (NYSE:W) during the 2nd quarter, Holdings Channel reports. The fund acquired 17,593 shares of the company’s stock, valued at approximately $1,626,000.

Other hedge funds have also recently bought and sold shares of the company. Piper Sandler & CO. purchased a new stake in Wayfair in the 4th quarter worth approximately $34,000. Havemeyer Place LP purchased a new position in shares of Wayfair during the 4th quarter worth $39,000. EverSource Wealth Advisors LLC lifted its stake in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Wayfair during the fourth quarter worth $44,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on W. Citigroup upped their target price on Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Benchmark began coverage on Wayfair in a research note on Tuesday, July 7th. They issued a “hold” rating on the stock. Zacks Research cut Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Finally, Needham & Company LLC increased their price objective on shares of Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.89.

Wayfair Stock Up 1.3%

Shares of NYSE W opened at $104.50 on Wednesday. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98. The firm has a fifty day moving average of $94.43 and a 200-day moving average of $81.47. The stock has a market capitalization of $13.79 billion, a PE ratio of -42.48, a P/E/G ratio of 4.57 and a beta of 2.99.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. Equities research analysts expect that Wayfair Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the director directly owned 360,073 shares of the company’s stock, valued at $37,217,145.28. The trade was a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 143,925 shares of company stock valued at $14,834,198. Company insiders own 18.44% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.