Benchstone Capital Management LP Has $12.96 Million Position in Wayfair Inc. $W

Key Points

• Benchstone Capital Management LP increased its stake in Wayfair Inc. by 11% during the first quarter, now owning approximately 404,585 shares valued at about $12.96 million.
• Several large investors, including Southpoint Capital Advisors LP and MetLife Investment Management LLC, significantly boosted their positions in Wayfair, highlighting strong institutional interest as they cumulatively own 89.67% of the company's stock.
• Wayfair recently reported quarterly earnings, with an EPS of $0.87 exceeding estimates and a revenue of $3.27 billion, marking a year-over-year increase of 5%.

Benchstone Capital Management LP increased its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 404,585 shares of the company's stock after acquiring an additional 40,213 shares during the quarter. Wayfair makes up approximately 1.4% of Benchstone Capital Management LP's holdings, making the stock its 29th biggest holding. Benchstone Capital Management LP owned approximately 0.32% of Wayfair worth $12,959,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Southpoint Capital Advisors LP boosted its position in Wayfair by 100.0% during 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in Wayfair by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company's stock worth $32,416,000 after acquiring an additional 2,736 shares during the last quarter. Contour Asset Management LLC boosted its holdings in shares of Wayfair by 18.7% in the 4th quarter. Contour Asset Management LLC now owns 835,455 shares of the company's stock valued at $37,027,000 after purchasing an additional 131,455 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Wayfair by 11.4% in the 4th quarter. Northern Trust Corp now owns 463,457 shares of the company's stock valued at $20,540,000 after purchasing an additional 47,326 shares during the last quarter. Finally, Beck Bode LLC acquired a new position in shares of Wayfair in the 1st quarter valued at $13,322,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Insiders Place Their Bets

In other news, CEO Niraj Shah 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 transaction of $6,805,950.00. Following the completion of the transaction, the chief executive officer directly owned 459,137 shares of the company's stock, valued at approximately $36,763,099.59. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Conine sold 85,000 shares of Wayfair 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 insider directly owned 459,073 shares of the company's stock, valued at $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 three months, insiders sold 1,240,204 shares of company stock valued at $81,706,986. Insiders own 21.91% of the company's stock.

Wayfair Stock Up 2.0%

Wayfair stock traded up $1.56 during trading hours on Wednesday, hitting $79.21. The company had a trading volume of 3,566,800 shares, compared to its average volume of 4,479,486. The firm's fifty day moving average is $66.43 and its 200-day moving average is $46.88. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $81.94.

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

Analyst Upgrades and Downgrades

W has been the topic of a number of research analyst reports. Loop Capital reiterated a "sell" rating and issued a $35.00 price target on shares of Wayfair in a report on Wednesday, May 14th. Stifel Nicolaus set a $68.00 price target on shares of Wayfair and gave the company a "hold" rating in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their price target on shares of Wayfair from $31.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wells Fargo & Company set a $84.00 price target on shares of Wayfair and gave the company an "overweight" rating in a report on Tuesday, August 5th. Finally, Mizuho raised their target price on shares of Wayfair from $50.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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 an average rating of "Moderate Buy" and an average target price of $69.19.

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.