Arrowstreet Capital Limited Partnership Makes New $15.56 Million Investment in Wayfair Inc. $W

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Wayfair Inc. (NYSE:W) in the second quarter, according to its most recent filing with the SEC. The firm purchased 304,202 shares of the company’s stock, valued at approximately $15,557,000.

Several other institutional investors have also modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after purchasing an additional 1,097 shares in the last quarter. IFP Advisors Inc raised its position in shares of 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 purchasing an additional 617 shares during the last quarter. GFG Capital LLC acquired a new position in shares of Wayfair during the 2nd quarter worth approximately $102,000. Northwestern Mutual Wealth Management Co. lifted its stake in Wayfair by 12.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after buying an additional 270 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Wayfair by 15,266.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock valued at $148,000 after buying an additional 4,580 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 150,000 shares of Wayfair stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.91, for a total value of $15,886,500.00. Following the completion of the transaction, the chief executive officer owned 729,137 shares of the company’s stock, valued at $77,222,899.67. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven Conine sold 150,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the sale, the insider owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. The trade was a 17.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 955,959 shares of company stock valued at $88,260,274 over the last 90 days. Insiders own 21.91% of the company’s stock.

Wayfair Stock Performance

Shares of Wayfair stock opened at $93.97 on Tuesday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $114.92. The firm’s 50-day simple moving average is $95.24 and its 200-day simple moving average is $75.61. The firm has a market cap of $12.25 billion, a PE ratio of -36.71 and a beta of 3.25.

Wayfair (NYSE:W) last announced its quarterly earnings data 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 the consensus estimate of $3.01 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Needham & Company LLC lifted their target price on shares of Wayfair from $83.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Citigroup boosted their price target on Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Barclays raised their price objective on Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Finally, Cowen reaffirmed a “hold” rating on shares of Wayfair in a research report on Wednesday, October 29th. Two 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.