Perbak Capital Partners LLP Invests $348,000 in Wayfair Inc. $W

Key Points

• Perbak Capital Partners LLP has acquired a new position in Wayfair Inc., purchasing 10,864 shares valued at approximately $348,000 during the first quarter.
• Wayfair has received multiple rating updates, with analysts providing a consensus rating of "Moderate Buy" and a target price of $69.19.
• Insider sales have been significant, with CEO Niraj Shah selling 199,422 shares for over $15.6 million, reflecting a decrease in their position by nearly 27%.

Perbak Capital Partners LLP bought a new stake in Wayfair Inc. (NYSE:W - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 10,864 shares of the company's stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in W. Southpoint Capital Advisors LP raised its position in shares of Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock worth $124,096,000 after acquiring an additional 1,400,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Wayfair by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company's stock worth $32,416,000 after purchasing an additional 2,736 shares during the period. Contour Asset Management LLC boosted its position in Wayfair by 18.7% during the fourth quarter. Contour Asset Management LLC now owns 835,455 shares of the company's stock worth $37,027,000 after purchasing an additional 131,455 shares in the last quarter. Northern Trust Corp raised its stake in shares of Wayfair by 11.4% during the 4th quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after buying an additional 47,326 shares during the period. Finally, Beck Bode LLC purchased a new stake in Wayfair in the 1st quarter worth $13,322,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Insider Buying and Selling at Wayfair

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Wayfair from $25.00 to $51.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 5th. Bank of America increased their target price on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a research note on Wednesday, July 2nd. Mizuho boosted their price target on Wayfair from $50.00 to $88.00 and gave the stock 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 equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.19.

Wayfair Trading Up 8.2%

W stock traded up $6.81 during midday trading on Friday, hitting $89.61. 7,514,181 shares of the company's stock were exchanged, compared to its average volume of 4,180,693. The stock has a market capitalization of $11.62 billion, a PE ratio of -37.34 and a beta of 2.95. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $90.05. The business has a 50-day simple moving average of $67.85 and a two-hundred day simple moving average of $47.39.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.11 billion. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal 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.