Wayfair Inc. $W is Spruce House Investment Management LLC’s 5th Largest Position

by · The Markets Daily

Spruce House Investment Management LLC boosted its holdings in Wayfair Inc. (NYSE:W – Free Report) by 37.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,000,000 shares of the company’s stock after buying an additional 819,615 shares during the period. Wayfair makes up about 5.7% of Spruce House Investment Management LLC’s investment portfolio, making the stock its 5th largest position. Spruce House Investment Management LLC’s holdings in Wayfair were worth $153,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of W. Bayesian Capital Management LP purchased a new stake in Wayfair during the second quarter worth approximately $952,000. Mane Global Capital Management LP acquired a new position in shares of Wayfair during the 2nd quarter valued at $17,555,000. Daiwa Securities Group Inc. boosted its position in Wayfair by 3.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock worth $352,000 after purchasing an additional 200 shares during the period. California Public Employees Retirement System boosted its position in Wayfair by 13.9% during the 2nd quarter. California Public Employees Retirement System now owns 123,513 shares of the company’s stock worth $6,316,000 after purchasing an additional 15,107 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Wayfair in the 2nd quarter valued at $451,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Up 6.7%

Shares of NYSE W opened at $99.53 on Friday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $114.92. The business has a 50 day moving average price of $95.74 and a two-hundred day moving average price of $76.30. The firm has a market cap of $12.97 billion, a PE ratio of -38.88 and a beta of 3.25.

Wayfair (NYSE:W – Get Free Report) last announced its 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 business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. On average, analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on W. Argus boosted their price objective on Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Raymond James Financial boosted their price target on Wayfair from $90.00 to $130.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group upped their price target on Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Jefferies Financial Group downgraded shares of Wayfair from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research report on Wednesday, December 3rd. Finally, Royal Bank Of Canada boosted their target price on shares of Wayfair from $51.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.29.

View Our Latest Stock Analysis on Wayfair

Insider Activity at Wayfair

In other news, CEO Niraj Shah sold 150,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.91, for a total value of $15,886,500.00. Following the completion of the sale, the chief executive officer owned 729,137 shares of the company’s stock, valued at approximately $77,222,899.67. The trade was a 17.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 6,347 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were 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. This trade represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 955,959 shares of company stock valued at $88,260,274. Insiders own 21.91% of the company’s stock.

Wayfair Profile

(Free Report)

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.

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