Chemistry Wealth Management LLC Raises Stock Holdings in Wayfair Inc. $W

Key Points

• Chemistry Wealth Management LLC has increased its stake in Wayfair Inc. by 9.4%, acquiring an additional 3,722 shares during the second quarter, bringing its total holdings to 43,503 shares valued at approximately $2.23 million.
• Wayfair's CEO, Niraj Shah, and another insider sold significant amounts of stock on August 13th, with Shah selling 199,422 shares for roughly $15.6 million, resulting in a 26.82% decrease in his ownership.
• Wayfair reported better-than-expected earnings for the last quarter, with an EPS of $0.87, exceeding analysts' estimates of $0.33, and a revenue of $3.27 billion, up 5% year-over-year.

Chemistry Wealth Management LLC lifted its position in Wayfair Inc. (NYSE:W - Free Report) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,503 shares of the company's stock after buying an additional 3,722 shares during the quarter. Chemistry Wealth Management LLC's holdings in Wayfair were worth $2,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of W. GAMMA Investing LLC lifted its stake in Wayfair by 85.8% in 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 in the last quarter. Parallel Advisors LLC raised its position in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after buying an additional 1,097 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Wayfair by 15,266.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company's stock worth $148,000 after buying an additional 4,580 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Wayfair in the first quarter worth $215,000. Finally, Corient IA LLC purchased a new stake in shares of Wayfair in the first quarter worth $240,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 85,000 shares of the company's stock in a transaction that occurred on 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 chief executive officer directly owned 459,137 shares of the company's stock, valued at $36,763,099.59. This represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 85,000 shares of the company'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 sale, the insider owned 459,073 shares in the company, 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. In the last quarter, insiders sold 1,173,857 shares of company stock worth $78,435,227. Corporate insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on W. Mizuho raised their price target on Wayfair from $50.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Needham & Company LLC raised their target price on shares of Wayfair from $40.00 to $83.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 target price on shares of Wayfair in a research note on Monday, August 4th. Wells Fargo & Company set a $84.00 price objective on shares of Wayfair and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Wayfair in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wayfair has a consensus rating of "Moderate Buy" and an average target price of $71.15.

Wayfair Trading Up 1.3%

Shares of W traded up $1.13 during trading hours on Friday, reaching $89.52. 3,050,790 shares of the stock traded hands, compared to its average volume of 4,997,938. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $91.77. The company's 50-day moving average price is $73.63 and its two-hundred day moving average price is $50.23. The company has a market cap of $11.61 billion, a P/E ratio of -37.40 and a beta of 2.95.

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

About Wayfair

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.