Beck Bode LLC Purchases Shares of 415,921 Wayfair Inc. $W

Key Points

• Beck Bode LLC acquired 415,921 shares of Wayfair Inc. valued at approximately $13.32 million, making it the firm's 23rd largest position.
• The stock has a market capitalization of $9.66 billion and a price-to-earnings ratio of -31.06, with a 1-year high of $81.94.
• In recent earnings, Wayfair reported an EPS of $0.87, exceeding estimates and showing a year-over-year revenue increase of 5.0%.

Beck Bode LLC bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 415,921 shares of the company's stock, valued at approximately $13,322,000. Wayfair comprises approximately 2.5% of Beck Bode LLC's investment portfolio, making the stock its 23rd largest holding. Beck Bode LLC owned 0.33% of Wayfair at the end of the most recent quarter.

Several other large investors have also bought and sold shares of W. True Wealth Design LLC raised its position in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares during the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 609 shares during the last quarter. Caitong International Asset Management Co. Ltd raised 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 worth $148,000 after purchasing an additional 4,580 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Wayfair during the 1st quarter worth $215,000. Finally, Corient IA LLC bought a new position in Wayfair during the 1st quarter worth $240,000. 89.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on W. Wall Street Zen raised Wayfair from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wedbush reaffirmed a "neutral" rating on shares of Wayfair in a research report on Tuesday, August 5th. Argus raised Wayfair from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Monday, May 12th. Bank of America increased their price target on Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $68.00 price target (up from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Wayfair has a consensus rating of "Moderate Buy" and an average target price of $69.19.

Wayfair Price Performance

Shares of W traded down $0.95 during trading hours on Friday, hitting $74.51. The stock had a trading volume of 2,277,597 shares, compared to its average volume of 5,314,146. The firm has a 50 day simple moving average of $64.80 and a 200-day simple moving average of $46.27. The firm has a market capitalization of $9.66 billion, a P/E ratio of -31.05 and a beta of 2.92. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $81.94.

Wayfair (NYSE:W - Get Free Report) last issued its 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 firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO Niraj Shah sold 85,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 459,137 shares in the company, valued at $36,763,099.59. 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, insider Steven Conine sold 85,000 shares of the firm's stock in a transaction dated 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 sale, the insider owned 459,073 shares of the company's stock, valued at approximately $36,757,975.11. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,240,204 shares of company stock valued at $81,706,986. 21.91% of the stock is currently 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.