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

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock valued at $16,786,000 after purchasing an additional 276,471 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Wayfair by 5,850.4% during the 1st quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after purchasing an additional 41,538 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Wayfair by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock valued at $703,000 after purchasing an additional 9,372 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Wayfair by 40.1% during the 1st quarter. Fred Alger Management LLC now owns 88,264 shares of the company's stock valued at $2,827,000 after purchasing an additional 25,260 shares in the last quarter. Finally, Scientech Research LLC raised its holdings in Wayfair by 33.1% in the 1st quarter. Scientech Research LLC now owns 36,187 shares of the company's stock worth $1,159,000 after acquiring an additional 9,003 shares during the period. Institutional investors own 89.67% of the company's stock.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 199,473 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the completion of the transaction, the insider directly owned 544,073 shares of the company's stock, valued at approximately $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,237,071 shares of company stock worth $81,558,513. Company insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on W. Stifel Nicolaus set a $68.00 target price on shares of Wayfair and gave the stock a "hold" rating in a report on Tuesday, August 5th. Canaccord Genuity Group lifted their target price on shares of Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 target price (up previously from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Royal Bank Of Canada lifted their target price on shares of Wayfair from $25.00 to $51.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 5th. Finally, Wedbush reiterated a "neutral" rating on shares of Wayfair in a report on Tuesday, August 5th. Two investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and a consensus price target of $69.19.

Wayfair Stock Performance

Shares of Wayfair stock opened at $87.72 on Monday. The firm has a market cap of $11.37 billion, a P/E 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 firm's 50-day simple moving average is $71.16 and its 200-day simple moving average is $49.02.

Wayfair (NYSE:W - Get Free Report) last released its quarterly 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 analyst estimates of $3.11 billion. Wayfair's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. On average, equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal 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.

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