Odyssean LLC Buys Shares of 17,593 Wayfair Inc. $W

Key Points

• Odyssean LLC initiated a Wayfair position by purchasing 17,593 shares worth approximately $1.63 million in the second quarter. Institutional investors collectively own 89.67% of the company.
• Wayfair insiders sold shares recently: CEO Niraj Shah and Director Steven Conine each sold 69,000 shares at $103.36, while insiders sold 143,925 shares worth $14.8 million over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $119.89. Wayfair’s latest quarterly results beat expectations, with adjusted EPS of $0.95 and revenue of $3.52 billion, up 7.5% year over year.

Odyssean LLC bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 17,593 shares of the company's stock, valued at approximately $1,626,000.

Several other institutional investors also recently made changes to their positions in W. Larson Financial Group LLC increased its holdings in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company's stock valued at $46,000 after purchasing an additional 120 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Wayfair by 4.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,435 shares of the company's stock worth $345,000 after buying an additional 155 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Wayfair by 12.8% during the fourth quarter. Parallel Advisors LLC now owns 1,400 shares of the company's stock worth $141,000 after buying an additional 159 shares in the last quarter. Flynn Zito Capital Management LLC grew its position in Wayfair by 6.4% during the first quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company's stock worth $209,000 after buying an additional 168 shares during the period. Finally, Utah Retirement Systems grew its position in Wayfair by 3.3% during the fourth quarter. Utah Retirement Systems now owns 5,194 shares of the company's stock worth $522,000 after buying an additional 168 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Wayfair

In other Wayfair news, Director Steven Conine sold 69,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the sale, the director owned 360,073 shares in the company, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the firm's stock in a transaction on 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 directly 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 90 days, insiders have sold 143,925 shares of company stock valued at $14,834,198. 18.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

W has been the subject of a number of research reports. BMO Capital Markets lifted their price target on shares of Wayfair from $105.00 to $115.00 and gave the company a "market perform" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on Wayfair from $78.00 to $92.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on Wayfair from $105.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Jefferies Financial Group reaffirmed a "hold" rating and set a $108.00 price objective on shares of Wayfair in a report on Tuesday, August 4th. Finally, UBS Group boosted their target price on Wayfair from $118.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned 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 price target of $119.89.

Wayfair Trading Up 1.3%

Shares of W opened at $104.50 on Wednesday. The stock has a market cap of $13.79 billion, a P/E ratio of -42.48, a PEG ratio of 4.57 and a beta of 2.99. The company has a 50-day moving average of $94.43 and a two-hundred day moving average of $81.47. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business earned $0.87 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts forecast that Wayfair Inc. will post 0.75 EPS for the current fiscal year.

Wayfair Company Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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