Alyeska Investment Group L.P. Boosts Stake in Wayfair Inc. $W

Key Points

• Alyeska Investment Group L.P. significantly increased its holdings in Wayfair Inc. by 681.8%, owning over 5.4 million shares valued at approximately $175 million as of the last quarter.
• Several hedge funds have also risen their stakes in Wayfair, with Southpoint Capital Advisors LP increasing its position by 42.9% and Charles Schwab Investment Management Inc. by 0.3%.
• Wayfair's latest quarterly earnings report showed earnings per share of $0.87, exceeding estimates and highlighting a 5% year-over-year revenue increase to $3.27 billion.

Alyeska Investment Group L.P. boosted its holdings in Wayfair Inc. (NYSE:W - Free Report) by 681.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,462,651 shares of the company's stock after acquiring an additional 4,763,944 shares during the quarter. Alyeska Investment Group L.P. owned 4.30% of Wayfair worth $174,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in W. Southpoint Capital Advisors LP increased its stake in Wayfair by 100.0% in the 4th 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 last quarter. Beck Bode LLC bought a new position in Wayfair in the 1st quarter worth about $13,322,000. MetLife Investment Management LLC increased its position in shares of Wayfair by 18,338.6% during the 1st quarter. MetLife Investment Management LLC now owns 308,478 shares of the company's stock valued at $9,881,000 after purchasing an additional 306,805 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Wayfair by 195.6% during the 4th quarter. Two Sigma Advisers LP now owns 412,000 shares of the company's stock valued at $18,260,000 after purchasing an additional 272,600 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Wayfair during the 4th quarter valued at about $8,292,000. 89.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of Wayfair stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer owned 544,137 shares in the company, valued at approximately $42,660,340.80. The trade was a 26.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 199,473 shares of Wayfair stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider owned 544,073 shares of the company's stock, valued at $42,655,323.20. The trade was a 26.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,240,204 shares of company stock valued at $81,706,986 in the last quarter. 21.91% of the stock is owned by company insiders.

Wayfair Stock Performance

Shares of W traded up $6.81 on Friday, reaching $89.61. The stock had a trading volume of 7,514,181 shares, compared to its average volume of 4,180,693. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of -37.34 and a beta of 2.95. The company has a 50-day simple moving average of $67.85 and a 200-day simple moving average of $47.40. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $90.05.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Wayfair from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Loop Capital restated a "sell" rating and set a $35.00 price target on shares of Wayfair in a research report on Wednesday, May 14th. Canaccord Genuity Group raised their price target on Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Jefferies Financial Group raised their price target on Wayfair from $74.00 to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Needham & Company LLC lifted their price objective on Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.19.

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.