AlphaQuest LLC Purchases 1,575 Shares of Wayfair Inc. $W

AlphaQuest LLC lifted its position in Wayfair Inc. (NYSE:W) by 16.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,448 shares of the company’s stock after purchasing an additional 1,575 shares during the quarter. AlphaQuest LLC’s holdings in Wayfair were worth $585,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in W. GAMMA Investing LLC increased its holdings in shares of Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after purchasing an additional 609 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Wayfair by 304.3% in the first quarter. Ameritas Advisory Services LLC now owns 20,916 shares of the company’s stock worth $672,000 after purchasing an additional 15,742 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Wayfair by 182.7% in the first quarter. Vontobel Holding Ltd. now owns 33,717 shares of the company’s stock worth $1,080,000 after purchasing an additional 21,790 shares during the last quarter. Summit Trail Advisors LLC bought a new stake in shares of Wayfair in the first quarter worth about $320,000. Finally, Teacher Retirement System of Texas purchased a new position in Wayfair in the first quarter worth about $443,000. 89.67% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Niraj Shah sold 199,422 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the sale, the chief executive officer owned 544,137 shares of the company’s stock, valued at approximately $42,660,340.80. This represents a 26.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Conine sold 199,473 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the sale, the insider directly owned 544,073 shares of the company’s stock, valued at approximately $42,655,323.20. This represents a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,200,000 shares of company stock valued at $97,390,637. Insiders own 21.91% of the company’s stock.

Wayfair Stock Performance

Shares of Wayfair stock opened at $106.56 on Wednesday. The firm has a 50-day simple moving average of $83.19 and a two-hundred day simple moving average of $60.80. The company has a market cap of $13.82 billion, a P/E ratio of -44.40 and a beta of 3.03. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $108.44.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. Equities research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wedbush reiterated a “neutral” rating on shares of Wayfair in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research report on Wednesday, October 8th. Sanford C. Bernstein reissued a “market perform” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Truist Financial set a $120.00 price objective on shares of Wayfair in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Wayfair from $84.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.73.

Wayfair 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.