14,124 Shares in Wayfair Inc. $W Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new position in shares of Wayfair Inc. (NYSE:W) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,124 shares of the company’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in W. GAMMA Investing LLC boosted its holdings in Wayfair by 85.8% during 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. Caitong International Asset Management Co. Ltd boosted its holdings in Wayfair by 15,266.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock worth $148,000 after purchasing an additional 4,580 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Wayfair in the first quarter valued at about $215,000. Corient IA LLC purchased a new position in Wayfair in the first quarter valued at about $240,000. Finally, Optas LLC boosted its stake in Wayfair by 103.3% in the first quarter. Optas LLC now owns 9,274 shares of the company’s stock valued at $297,000 after acquiring an additional 4,712 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Wayfair in a research note on Wednesday, August 27th. Royal Bank Of Canada boosted their target price on shares of Wayfair from $25.00 to $51.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 5th. Mizuho boosted their target price on shares of Wayfair from $50.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. UBS Group boosted their target price on shares of Wayfair from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $95.00 target price on shares of Wayfair in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.19.

Insider Buying and Selling

In other news, CEO Niraj Shah sold 85,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total value of $6,805,950.00. Following the transaction, the chief executive officer owned 459,137 shares of the company’s stock, valued at $36,763,099.59. This represents a 15.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 85,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the completion of the transaction, the insider directly owned 459,073 shares in the company, valued at $36,757,975.11. The trade was a 15.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,240,204 shares of company stock worth $81,706,986 in the last ninety days. 21.91% of the stock is currently owned by insiders.

Wayfair Trading Down 2.7%

Wayfair stock opened at $87.72 on Friday. The firm’s 50 day simple moving average is $71.16 and its 200 day simple moving average is $48.91. The firm has a market capitalization of $11.37 billion, a PE ratio of -36.55 and a beta of 2.95. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77.

Wayfair (NYSE:W) last posted its earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. Research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wayfair Company 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.