Edgestream Partners L.P. Makes New Investment in Wayfair Inc. $W

Edgestream Partners L.P. bought a new stake in shares of Wayfair Inc. (NYSE:W) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 53,708 shares of the company’s stock, valued at approximately $2,747,000.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Wayfair by 12.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock worth $126,000 after acquiring an additional 270 shares in the last quarter. Amalgamated Bank increased its position in Wayfair by 5.5% in the 2nd quarter. Amalgamated Bank now owns 5,348 shares of the company’s stock worth $273,000 after purchasing an additional 278 shares during the last quarter. Swiss National Bank raised its stake in shares of Wayfair by 0.3% during the 1st quarter. Swiss National Bank now owns 183,300 shares of the company’s stock worth $5,871,000 after purchasing an additional 600 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after buying an additional 617 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Wayfair by 6.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,730 shares of the company’s stock valued at $753,000 after buying an additional 910 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Down 0.5%

NYSE:W opened at $94.68 on Friday. The firm has a market capitalization of $12.34 billion, a PE ratio of -36.98 and a beta of 3.25. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $114.92. The firm’s fifty day simple moving average is $94.98 and its 200 day simple moving average is $74.28.

Wayfair (NYSE:W) last released its earnings results 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 for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Conine sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the completion of the transaction, the insider directly owned 729,073 shares in the company, valued at $77,223,412.16. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 6,347 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the sale, the chief technology officer owned 198,860 shares in the company, valued at approximately $19,993,384.40. The trade was a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 955,959 shares of company stock worth $88,260,274 in the last 90 days. 21.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Stifel Nicolaus set a $100.00 price target on shares of Wayfair in a research note on Wednesday, October 29th. Evercore ISI lifted their price objective on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $105.29.

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.