Maverick Capital Ltd. Invests $2.15 Million in Wayfair Inc. $W

Key Points

• Maverick Capital Ltd. acquired 67,216 shares of Wayfair Inc. for approximately $2.15 million, representing about 0.05% ownership in the company as per their latest SEC filing.
• Wayfair's stock performance showed a opening price of $74.51, a market cap of $9.66 billion, and has seen a 52-week low of $20.41 and a high of $81.94.
• Insider trading activity includes substantial sales by executives, with 1,240,204 shares sold worth around $81.7 million over the past three months, decreasing insider ownership to 21.91%.

Maverick Capital Ltd. acquired a new stake in shares of Wayfair Inc. (NYSE:W - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,216 shares of the company's stock, valued at approximately $2,153,000. Maverick Capital Ltd. owned about 0.05% of Wayfair as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Graham Capital Management L.P. increased its position in Wayfair by 20.0% in the first quarter. Graham Capital Management L.P. now owns 50,471 shares of the company's stock worth $1,617,000 after buying an additional 8,413 shares in the last quarter. Benchstone Capital Management LP increased its position in Wayfair by 11.0% in the first quarter. Benchstone Capital Management LP now owns 404,585 shares of the company's stock worth $12,959,000 after buying an additional 40,213 shares in the last quarter. Beck Bode LLC purchased a new stake in Wayfair in the first quarter worth about $13,322,000. MetLife Investment Management LLC boosted its stake in shares of Wayfair by 18,338.6% in the first quarter. MetLife Investment Management LLC now owns 308,478 shares of the company's stock worth $9,881,000 after acquiring an additional 306,805 shares during the period. Finally, Credit Agricole S A boosted its stake in shares of Wayfair by 255.9% in the first quarter. Credit Agricole S A now owns 18,534 shares of the company's stock worth $594,000 after acquiring an additional 13,327 shares during the period. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on Wayfair from $25.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. Evercore ISI upped their price objective on Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Canaccord Genuity Group upped their price objective on Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Gordon Haskett raised Wayfair from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 4th. Finally, Citigroup raised Wayfair from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $32.00 to $93.00 in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Wayfair Stock Performance

Shares of Wayfair stock traded up $6.81 on Friday, hitting $89.61. The company's stock had a trading volume of 7,514,181 shares, compared to its average volume of 4,180,693. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $90.05. The firm has a fifty day moving average price of $67.85 and a 200-day moving average price of $47.39. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of -37.34 and a beta of 2.95.

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

Insider Buying and Selling

In related news, insider Steven Conine sold 199,473 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares in the company, valued at approximately $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 199,422 shares of the company's stock in a transaction that occurred on 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 owned 544,137 shares in the company, valued at $42,660,340.80. This represents a 26.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,240,204 shares of company stock worth $81,706,986 over the last quarter. 21.91% of the stock is currently owned by insiders.

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.