Los Angeles Capital Management LLC Invests $3 Million in Wayfair Inc. $W

by · The Markets Daily

Los Angeles Capital Management LLC bought a new stake in shares of Wayfair Inc. (NYSE:W – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,660 shares of the company’s stock, valued at approximately $3,000,000.

A number of other institutional investors have also recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after acquiring an additional 1,097 shares during the last quarter. IFP Advisors Inc increased its position 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 purchasing an additional 617 shares during the last quarter. GFG Capital LLC bought a new position in shares of Wayfair during the 2nd quarter valued at approximately $102,000. Caitong International Asset Management Co. Ltd raised its holdings in Wayfair by 15,266.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock valued at $148,000 after buying an additional 4,580 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Wayfair in the first quarter worth $215,000. Institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Wayfair from $51.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Mizuho increased their price objective on shares of Wayfair from $88.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Zelman & Associates boosted their target price on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.96.

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Insiders Place Their Bets

In other news, CTO Fiona Tan sold 6,347 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction of $638,127.38. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 9,612 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $102.20, for a total transaction of $982,346.40. Following the transaction, the chief financial officer owned 175,497 shares in the company, valued at approximately $17,935,793.40. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,224,854 shares of company stock worth $101,371,042 over the last quarter. Company insiders own 21.91% of the company’s stock.

Wayfair Stock Up 5.3%

Shares of Wayfair stock opened at $112.52 on Tuesday. The company has a market cap of $14.67 billion, a P/E ratio of -43.95 and a beta of 3.03. The firm’s 50 day moving average price is $88.23 and its 200-day moving average price is $65.89. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $114.92.

Wayfair (NYSE:W – Get Free Report) last announced its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business earned $0.22 earnings per share. Wayfair’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

About Wayfair

(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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