Penserra Capital Management LLC Grows Holdings in Wayfair Inc. $W

Penserra Capital Management LLC boosted its holdings in shares of Wayfair Inc. (NYSE:W) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 120,516 shares of the company’s stock after purchasing an additional 10,058 shares during the period. Penserra Capital Management LLC owned approximately 0.09% of Wayfair worth $6,162,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. raised its holdings in shares of Wayfair by 681.8% in the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock valued at $174,969,000 after buying an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP increased its position in Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after acquiring an additional 1,200,000 shares during the period. Beck Bode LLC purchased a new stake in Wayfair during the 1st quarter valued at approximately $13,322,000. MetLife Investment Management LLC lifted its position in Wayfair by 18,338.6% during the 1st quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock worth $9,881,000 after acquiring an additional 306,805 shares during the period. Finally, AQR Capital Management LLC lifted its position in Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after acquiring an additional 276,471 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Performance

Wayfair stock opened at $107.18 on Monday. The company has a market cap of $13.97 billion, a P/E ratio of -41.87 and a beta of 3.03. Wayfair Inc. has a one year low of $20.41 and a one year high of $108.72. The business has a fifty day moving average of $87.47 and a two-hundred day moving average of $65.30.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the business earned $0.22 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

W has been the topic of a number of recent research reports. Citigroup boosted their target price on Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of Wayfair from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. UBS Group boosted their price objective on shares of Wayfair from $102.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Barclays raised their target price on shares of Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Finally, Mizuho lifted their target price on shares of Wayfair from $88.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $103.96.

Insider Activity

In related news, insider Steven Conine sold 199,473 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the sale, the insider owned 544,073 shares in the company, valued at $42,655,323.20. This represents a 26.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 199,422 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares of the company’s stock, valued at $42,660,340.80. The trade was a 26.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,224,854 shares of company stock worth $101,371,042 over the last 90 days. 21.91% of the stock is currently owned by company insiders.

About Wayfair

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.