Corient Private Wealth LP Has $12.53 Million Stake in Wayfair Inc. $W

Key Points

• Corient Private Wealth increased its Wayfair stake by 151.7% in the second quarter, acquiring 81,719 additional shares for a total holding valued at $12.53 million. Institutional investors and hedge funds collectively own 89.67% of Wayfair.
• Wayfair reported quarterly earnings of $0.95 per share, exceeding estimates by $0.05, while revenue rose 7.5% year over year to $3.52 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $119.89.
• Insiders have been selling shares, including CEO Niraj Shah’s sale of 69,000 shares and insider Jon Blotner’s sale of 6,968 shares. Insiders sold 150,893 shares worth approximately $15.5 million over the past 90 days.

Corient Private Wealth LP boosted its stake in Wayfair Inc. (NYSE:W - Free Report) by 151.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,582 shares of the company's stock after acquiring an additional 81,719 shares during the quarter. Corient Private Wealth LP owned 0.10% of Wayfair worth $12,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in W. Flynn Zito Capital Management LLC increased its holdings in Wayfair by 6.4% during the 1st quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company's stock worth $209,000 after purchasing an additional 168 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Wayfair by 36.2% during the fourth quarter. Larson Financial Group LLC now owns 708 shares of the company's stock worth $71,000 after buying an additional 188 shares during the period. Triumph Capital Management boosted its position in shares of Wayfair by 6.3% during the second quarter. Triumph Capital Management now owns 3,498 shares of the company's stock worth $323,000 after buying an additional 207 shares during the period. Parallel Advisors LLC grew its holdings in shares of Wayfair by 18.6% during the first quarter. Parallel Advisors LLC now owns 1,661 shares of the company's stock worth $125,000 after buying an additional 261 shares in the last quarter. Finally, Rothschild Investment LLC grew its holdings in shares of Wayfair by 27.9% during the fourth quarter. Rothschild Investment LLC now owns 1,401 shares of the company's stock worth $141,000 after buying an additional 306 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 6,968 shares of Wayfair stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $100.22, for a total transaction of $698,332.96. Following the completion of the transaction, the insider owned 110,376 shares in the company, valued at approximately $11,061,882.72. This trade represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of Wayfair stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the chief executive officer owned 360,137 shares of the company's stock, valued at $37,223,760.32. The trade was a 16.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 150,893 shares of company stock worth $15,532,531. Insiders own 18.44% of the company's stock.

Wayfair Trading Down 0.8%

Shares of W opened at $104.00 on Wednesday. The company has a market cap of $13.73 billion, a price-to-earnings ratio of -42.27, a PEG ratio of 3.77 and a beta of 2.99. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98. The company's fifty day simple moving average is $97.12 and its 200 day simple moving average is $83.17.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.47 billion. During the same quarter last year, the company posted $0.87 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post 0.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Rosenblatt Securities assumed coverage on Wayfair in a research note on Thursday, August 20th. They issued a "buy" rating and a $125.00 target price on the stock. Guggenheim raised their price target on shares of Wayfair from $100.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. TD Cowen lifted their price objective on shares of Wayfair from $75.00 to $110.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Evercore reissued an "outperform" rating and issued a $130.00 price objective on shares of Wayfair in a research report on Wednesday, August 5th. Finally, Benchmark started coverage on shares of Wayfair in a report on Tuesday, July 7th. They set a "hold" rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued 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 an average price target of $119.89.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.

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