Wayfair Inc. $W Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Wayfair Inc. by 111.7%, acquiring an additional 276,471 shares to reach a total of 524,072 shares worth approximately $16.8 million.
• Wayfair's CEO and another insider each sold around 199,000 shares of company stock, indicating a decrease in their ownership by about 26.8%.
• Analyst ratings for Wayfair are predominantly positive, with Guggenheim and others giving it a "buy" rating and target prices ranging from $68.00 to $90.00.

AQR Capital Management LLC grew its holdings in Wayfair Inc. (NYSE:W - Free Report) by 111.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 524,072 shares of the company's stock after buying an additional 276,471 shares during the quarter. AQR Capital Management LLC owned 0.41% of Wayfair worth $16,786,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in W. GAMMA Investing LLC raised its holdings in Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after buying an additional 609 shares during the period. Caitong International Asset Management Co. Ltd increased its position 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 purchasing an additional 4,580 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Wayfair during the 1st quarter worth approximately $215,000. Corient IA LLC bought a new position in Wayfair during the 1st quarter valued at $240,000. Finally, Optas LLC increased its position in shares of Wayfair by 103.3% during the 1st quarter. Optas LLC now owns 9,274 shares of the company's stock valued at $297,000 after purchasing an additional 4,712 shares during the last quarter. Institutional investors own 89.67% of the company's stock.

Wayfair Price Performance

Shares of W traded down $2.45 during midday trading on Friday, reaching $87.72. 3,426,229 shares of the stock were exchanged, compared to its average volume of 4,240,503. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of -36.55 and a beta of 2.95. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $91.77. The business's 50-day moving average price is $71.16 and its 200 day moving average price is $48.91.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on W shares. Evercore ISI boosted their target price on Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Jefferies Financial Group raised their price objective on Wayfair from $74.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Raymond James Financial reiterated a "strong-buy" rating on shares of Wayfair in a report on Tuesday, August 5th. Wedbush reaffirmed a "neutral" rating on shares of Wayfair in a research report on Tuesday, August 5th. Finally, Canaccord Genuity Group increased their target price on Wayfair from $58.00 to $70.00 and gave the company a "buy" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Wayfair currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the business's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven Conine sold 199,473 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the sale, the insider directly owned 544,073 shares in the company, valued at $42,655,323.20. This trade represents a 26.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,240,204 shares of company stock worth $81,706,986 in the last quarter. 21.91% of the stock is currently owned by insiders.

Wayfair 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.