Banco Bilbao Vizcaya Argentaria S.A. Sells 28,882 Shares of Wayfair Inc. $W

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in shares of Wayfair Inc. (NYSE:W) by 63.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,680 shares of the company’s stock after selling 28,882 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Wayfair were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. Argus raised their price objective on shares of Wayfair from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Oppenheimer upped their target price on shares of Wayfair from $100.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 12th. Gordon Haskett raised shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Tuesday, October 28th. Finally, Bank of America upgraded shares of Wayfair from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.57.

Insider Activity

In other news, CEO Niraj Shah sold 120,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the completion of the transaction, the chief executive officer directly owned 169,137 shares in the company, valued at approximately $13,897,987.29. The trade was a 41.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 120,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total value of $9,860,400.00. Following the completion of the sale, the insider directly owned 169,073 shares of the company’s stock, valued at approximately $13,892,728.41. This trade represents a 41.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 825,959 shares of company stock worth $70,097,674 in the last three months. Insiders own 21.91% of the company’s stock.

Wayfair Stock Performance

W opened at $99.67 on Tuesday. The company has a fifty day moving average price of $90.51 and a two-hundred day moving average price of $68.55. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $114.92. The firm has a market capitalization of $12.99 billion, a PE ratio of -38.93 and a beta of 3.03.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share 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 analyst estimates of $3.01 billion. During the same period last year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

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.