Edgestream Partners L.P. Buys New Shares in Wayfair Inc. $W

Edgestream Partners L.P. purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,708 shares of the company’s stock, valued at approximately $2,747,000.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake 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 valued at $16,786,000 after buying an additional 276,471 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Wayfair during the 2nd quarter valued at about $1,512,000. Jacobs Levy Equity Management Inc. bought a new stake in Wayfair in the first quarter valued at about $452,000. Signaturefd LLC raised its position in Wayfair by 10.1% in the second quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after purchasing an additional 34,507 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Wayfair by 40.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company’s stock worth $603,000 after purchasing an additional 3,395 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE:W opened at $94.68 on Friday. The business has a fifty day moving average of $94.98 and a 200-day moving average of $74.28. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $114.92. The firm has a market cap of $12.34 billion, a PE ratio of -36.98 and a beta of 3.25.

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

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the transaction, the chief executive officer owned 729,137 shares of the company’s stock, valued at approximately $77,222,899.67. This represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 150,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the insider owned 729,073 shares in the company, valued at $77,223,412.16. The trade was a 17.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 955,959 shares of company stock valued at $88,260,274 over the last three months. 21.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

W has been the topic of several analyst reports. Raymond James Financial upped their price objective on Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group upped their price target on Wayfair from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Guggenheim increased their price objective on Wayfair from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Needham & Company LLC boosted their target price on shares of Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Barclays upped their target price on shares of Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.29.

Wayfair Company 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.