Patriot Financial Group Insurance Agency LLC Takes Position in Wayfair Inc. $W

Key Points

• Patriot Financial Group Insurance Agency LLC has acquired a new stake in Wayfair Inc. by purchasing 8,832 shares, valued at approximately $452,000, as reported in its recent 13F filing.
• Insider Steven Conine and CEO Niraj Shah each sold 85,000 shares at an average price of $86.79, representing an 18.5% decrease in their ownership positions.
• Wayfair's stock has shown significant volatility, with a market cap of $11.48 billion, a PE ratio of -36.88, and recent quarterly earnings exceeding analysts' expectations with a revenue of $3.27 billion.

Patriot Financial Group Insurance Agency LLC acquired a new stake in Wayfair Inc. (NYSE:W - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,832 shares of the company's stock, valued at approximately $452,000.

A number of other large investors also recently modified their holdings of W. Alyeska Investment Group L.P. boosted its position in shares of Wayfair by 681.8% in the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock valued at $174,969,000 after acquiring an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP boosted its position in shares of Wayfair by 42.9% in the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company's stock valued at $128,120,000 after acquiring an additional 1,200,000 shares during the period. Beck Bode LLC bought a new position in shares of Wayfair in the first quarter valued at approximately $13,322,000. MetLife Investment Management LLC boosted its position 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 valued at $9,881,000 after acquiring an additional 306,805 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock valued at $16,786,000 after acquiring an additional 276,471 shares during the period. 89.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Steven Conine sold 85,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the sale, the insider directly owned 374,073 shares in the company, valued at $32,465,795.67. This represents a 18.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Niraj Shah sold 85,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the sale, the chief executive officer owned 374,137 shares of the company's stock, valued at $32,471,350.23. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 923,857 shares of company stock valued at $71,090,564 over the last quarter. 21.91% of the stock is currently owned by company insiders.

Wayfair Stock Performance

W stock opened at $88.51 on Friday. The company has a market capitalization of $11.48 billion, a PE ratio of -36.88 and a beta of 3.03. Wayfair Inc. has a one year low of $20.41 and a one year high of $91.77. The company's 50 day moving average price is $79.83 and its two-hundred day moving average price is $54.45.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Wayfair from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Needham & Company LLC lifted their target price on shares of Wayfair from $40.00 to $83.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Wayfair in a research report on Saturday, September 27th. Zacks Research lowered shares of Wayfair from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Wayfair in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $73.27.

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.

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