MetLife Investment Management LLC Has $9.88 Million Holdings in Wayfair Inc. $W

Key Points

• MetLife Investment Management LLC significantly increased its stake in Wayfair Inc. by 18,338.6% in the first quarter, owning approximately 0.24% of the company valued at nearly $9.88 million after purchasing over 306,000 shares.
• Wayfair reported a better-than-expected quarterly earnings with an EPS of $0.87, exceeding the consensus estimate by $0.54, and recorded revenues of $3.27 billion, which is a 5% increase year-over-year.
• Wall Street analysts are optimistic about Wayfair's future, with several firms boosting their target prices significantly; Mizuho and Citigroup increased their targets to $88.00 and $93.00, respectively.

MetLife Investment Management LLC raised its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 18,338.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 308,478 shares of the company's stock after acquiring an additional 306,805 shares during the quarter. MetLife Investment Management LLC owned approximately 0.24% of Wayfair worth $9,881,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Wayfair by 148.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,971 shares of the company's stock worth $752,000 after acquiring an additional 10,152 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Wayfair by 3,374.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,332 shares of the company's stock worth $325,000 after buying an additional 7,121 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Wayfair by 6.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 67,904 shares of the company's stock worth $3,010,000 after buying an additional 4,177 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Wayfair in the 4th quarter valued at approximately $4,262,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Wayfair in the 4th quarter valued at approximately $745,000. 89.67% of the stock is owned by institutional investors.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 199,422 shares of the firm'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 transaction of $15,634,684.80. Following the completion of the sale, the chief executive officer owned 544,137 shares of the company's stock, valued at $42,660,340.80. This trade represents a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 199,473 shares of the firm'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 sale, the insider directly owned 544,073 shares of the company's stock, valued at $42,655,323.20. This represents a 26.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,240,204 shares of company stock valued at $81,706,986 over the last 90 days. 21.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $90.00 price objective on shares of Wayfair in a research report on Wednesday. Jefferies Financial Group upped their price objective on Wayfair from $74.00 to $91.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Zelman & Associates boosted their target price on Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Truist Financial set a $40.00 price objective on Wayfair in a report on Friday, May 2nd. Finally, Mizuho upped their price objective on Wayfair from $50.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.19.

Wayfair Stock Down 1.3%

Wayfair stock traded down $0.95 during trading hours on Friday, hitting $74.51. The stock had a trading volume of 2,277,597 shares, compared to its average volume of 5,314,146. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of -31.05 and a beta of 2.92. Wayfair Inc. has a one year low of $20.41 and a one year high of $81.94. The business's 50 day simple moving average is $64.80 and its 200-day simple moving average is $46.26.

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

Wayfair Company 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.