Brighton Jones LLC Invests $571,000 in Wayfair Inc. $W

Brighton Jones LLC purchased a new stake in Wayfair Inc. (NYSE:W) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,388 shares of the company’s stock, valued at approximately $571,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Wayfair by 111.7% in the first 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 bought a new position in shares of Wayfair in the second quarter worth about $1,512,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Wayfair in the first quarter worth about $452,000. Hook Mill Capital Partners LP acquired a new stake in shares of Wayfair in the 2nd quarter valued at approximately $39,965,000. Finally, Bosun Asset Management LLC bought a new stake in shares of Wayfair during the 2nd quarter valued at approximately $690,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Down 2.0%

W opened at $99.54 on Friday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $114.92. The company has a fifty day moving average of $99.56 and a 200-day moving average of $80.33. The stock has a market cap of $12.97 billion, a PE ratio of -38.88 and a beta of 3.25.

Wayfair (NYSE:W) last released its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) 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 analyst estimates of $3.01 billion. Wayfair’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. Sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, CFO Kate Gulliver sold 9,612 shares of Wayfair stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $102.20, for a total value of $982,346.40. Following the completion of the sale, the chief financial officer directly owned 175,497 shares in the company, valued at approximately $17,935,793.40. The trade was a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Conine sold 150,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following 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. The disclosure for this sale is available in the SEC filing. Insiders sold 785,959 shares of company stock valued at $73,505,974 over the last 90 days. 21.91% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on W shares. Wall Street Zen raised shares of Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Stifel Nicolaus set a $100.00 price target on shares of Wayfair in a report on Wednesday, October 29th. BMO Capital Markets set a $110.00 price target on Wayfair and gave the company a “market perform” rating in a research note on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Wayfair in a research report on Wednesday, October 29th. Finally, Barclays upped their target price on Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.29.

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.