7,500 Shares in Wayfair Inc. $W Bought by Corient IA LLC

Key Points

• Corient IA LLC invested $240,000 in Wayfair Inc. by purchasing 7,500 shares in the first quarter.
• Wayfair's stock opened at $79.08, with a notable 52-week high of $80.50 and a significant market capitalization of $10.25 billion.
• The company's recent earnings report showed an EPS of $0.87, which surpassed analysts' expectations, and revenue growth of 5.0% year-over-year.

Corient IA LLC acquired a new position in Wayfair Inc. (NYSE:W - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,500 shares of the company's stock, valued at approximately $240,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new position in Wayfair in the 1st quarter worth $215,000. Caitong International Asset Management Co. Ltd raised its holdings in Wayfair by 15,266.7% in 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 in the last quarter. Swiss National Bank raised its holdings in Wayfair by 0.3% in the 1st quarter. Swiss National Bank now owns 183,300 shares of the company's stock worth $5,871,000 after purchasing an additional 600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Wayfair by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company's stock worth $32,416,000 after purchasing an additional 2,736 shares in the last quarter. Finally, Blueshift Asset Management LLC raised its holdings in Wayfair by 1,754.2% in the 1st quarter. Blueshift Asset Management LLC now owns 117,517 shares of the company's stock worth $3,764,000 after purchasing an additional 111,179 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Niraj Shah sold 85,000 shares of Wayfair stock in a transaction that occurred on 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 chief executive officer owned 459,137 shares in the company, valued at $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction that occurred on 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 approximately $36,757,975.11. The trade was a 15.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,385,789 shares of company stock worth $87,587,895. 21.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on W. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Monday, May 12th. Mizuho increased their price target on shares of Wayfair from $50.00 to $88.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. UBS Group increased their price target on shares of Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Stifel Nicolaus set a $68.00 price target on shares of Wayfair and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Wayfair has a consensus rating of "Moderate Buy" and a consensus price target of $67.65.

Wayfair Price Performance

Shares of W traded up $1.3930 on Friday, reaching $77.7630. The company's stock had a trading volume of 6,877,937 shares, compared to its average volume of 5,144,964. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $81.94. The stock has a market capitalization of $10.08 billion, a P/E ratio of -32.40 and a beta of 2.92. The stock's 50 day simple moving average is $61.65 and its two-hundred day simple moving average is $45.07.

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

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.