14,124 Shares in Wayfair Inc. $W Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. acquired 14,124 shares of Wayfair Inc., valued at approximately $452,000, during the first quarter.
• Several hedge funds, including GAMMA Investing LLC and Caitong International Asset Management, significantly increased their stakes in Wayfair, raising institutional ownership to 89.67%.
• Wayfair reported earnings of $0.87 per share in the last quarter, exceeding analysts' expectations, with a revenue of $3.27 billion, marking a 5.0% year-over-year increase.

Jacobs Levy Equity Management Inc. bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,124 shares of the company's stock, valued at approximately $452,000.

A number of other large investors also recently modified their holdings of W. AQR Capital Management LLC lifted its holdings in 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 acquiring an additional 276,471 shares during the period. Alyeska Investment Group L.P. lifted its stake in Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company's stock worth $128,120,000 after purchasing an additional 1,200,000 shares in the last quarter. Perbak Capital Partners LLP bought a new stake in shares of Wayfair in the 1st quarter valued at about $348,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Wayfair in the 1st quarter valued at about $2,153,000. Institutional investors own 89.67% of the company's stock.

Wayfair Stock Down 0.0%

W stock traded down $0.04 during midday trading on Monday, hitting $87.57. The company's stock had a trading volume of 2,635,253 shares, compared to its average volume of 4,244,339. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $91.77. The firm has a market capitalization of $11.35 billion, a P/E ratio of -36.49 and a beta of 2.95. The firm has a 50-day simple moving average of $71.81 and a 200-day simple moving average of $49.35.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on W shares. The Goldman Sachs Group upped their target price on Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. UBS Group lifted their target price on Wayfair from $80.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Evercore ISI raised their price target on Wayfair from $50.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 target price on shares of Wayfair in a report on Monday, August 4th. Finally, Jefferies Financial Group boosted their target price on Wayfair from $74.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 85,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the transaction, the chief executive officer directly owned 459,137 shares in the company, valued at $36,763,099.59. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Conine sold 85,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the sale, the insider directly owned 459,073 shares in the company, valued at approximately $36,757,975.11. This represents a 15.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,237,071 shares of company stock worth $81,558,513 over the last quarter. 21.91% of the stock is owned by company insiders.

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.