Wayfair Inc. (NYSE:W) Stock Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in Wayfair Inc. (NYSE:W) by 85.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,319 shares of the company’s stock after buying an additional 609 shares during the period. GAMMA Investing LLC’s holdings in Wayfair were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Wayfair by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock valued at $44,733,000 after acquiring an additional 35,057 shares during the last quarter. Arizona State Retirement System lifted its holdings in Wayfair by 2.4% in the 4th quarter. Arizona State Retirement System now owns 26,951 shares of the company’s stock valued at $1,194,000 after acquiring an additional 624 shares during the last quarter. AlphaQuest LLC lifted its holdings in Wayfair by 650.4% in the 4th quarter. AlphaQuest LLC now owns 9,853 shares of the company’s stock valued at $437,000 after acquiring an additional 8,540 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Wayfair in the 4th quarter valued at about $364,000. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on W. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price objective (up from $50.00) on shares of Wayfair in a research note on Wednesday, July 2nd. Zelman & Associates upped their price objective on shares of Wayfair from $55.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday. Guggenheim reduced their price objective on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Mizuho reduced their price objective on shares of Wayfair from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Wedbush raised shares of Wayfair to a “hold” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $46.72.

Wayfair Trading Up 4.2%

Shares of Wayfair stock opened at $58.97 on Friday. The company’s fifty day simple moving average is $43.99 and its 200-day simple moving average is $40.41. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -20.69 and a beta of 2.97. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $59.51.

Wayfair (NYSE:W) last issued its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the business earned ($0.32) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Niraj Shah sold 7,713 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total value of $425,834.73. Following the sale, the chief executive officer owned 229,137 shares in the company, valued at approximately $12,650,653.77. The trade was a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 7,094 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total transaction of $391,659.74. Following the completion of the sale, the insider owned 229,073 shares in the company, valued at $12,647,120.33. This represents a 3.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 666,874 shares of company stock worth $32,647,157 over the last 90 days. Corporate insiders own 21.91% of the company’s stock.

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.