Wayfair Inc. $W Shares Acquired by Allen Investment Management LLC

Allen Investment Management LLC boosted its holdings in Wayfair Inc. (NYSE:W) by 32.3% in the fourth quarter, HoldingsChannel reports. The firm owned 749,250 shares of the company’s stock after purchasing an additional 183,000 shares during the period. Allen Investment Management LLC’s holdings in Wayfair were worth $75,232,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in Wayfair by 826.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after acquiring an additional 2,512,854 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Wayfair in the 3rd quarter worth about $108,125,000. Norges Bank acquired a new stake in shares of Wayfair in the 4th quarter valued at about $117,973,000. AQR Capital Management LLC lifted its position in shares of Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after purchasing an additional 1,033,865 shares during the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Wayfair by 351.9% during the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock worth $66,178,000 after purchasing an additional 1,007,676 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Up 0.7%

Shares of W stock opened at $72.79 on Tuesday. The stock has a 50-day simple moving average of $71.02 and a 200 day simple moving average of $87.50. The stock has a market capitalization of $9.61 billion, a P/E ratio of -31.10, a P/E/G ratio of 3.80 and a beta of 3.02. Wayfair Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $119.98.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. Wayfair’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. On average, sell-side analysts anticipate that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, Director Steven Conine sold 7,139 shares of Wayfair stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $78.55, for a total value of $560,768.45. Following the transaction, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.62, for a total value of $482,490.94. Following the sale, the chief executive officer directly owned 429,137 shares in the company, valued at $33,738,750.94. This trade represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 463,785 shares of company stock worth $35,864,224. Corporate insiders own 18.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on W. Wedbush cut their price objective on Wayfair from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Citigroup decreased their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wayfair in a report on Monday, April 20th. Needham & Company LLC dropped their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, The Goldman Sachs Group set a $79.00 price objective on shares of Wayfair in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.89.

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.