Praxis Investment Management Inc. Purchases Shares of 5,090 Wayfair Inc. $W

Key Points

• Praxis Investment Management Inc. has acquired a new stake in Wayfair Inc., purchasing 5,090 shares valued at approximately $260,000 during the second quarter.
• Wayfair's stock recently opened at $82.42 and has a market capitalization of $10.69 billion, indicating significant investor interest and activity, with 89.67% of the stock owned by institutional investors.
• Despite a revenue increase of 5.0% year-over-year and beating earnings estimates, Wayfair's stock price has seen insider selling, with insiders collectively selling 910,000 shares valued at over $70 million in the last quarter.

Praxis Investment Management Inc. purchased a new stake in shares of Wayfair Inc. (NYSE:W - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 5,090 shares of the company's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in W. GAMMA Investing LLC boosted its stake in Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after purchasing an additional 609 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Wayfair by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after acquiring an additional 9,372 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Wayfair by 304.3% during the 1st quarter. Ameritas Advisory Services LLC now owns 20,916 shares of the company's stock worth $672,000 after acquiring an additional 15,742 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Wayfair by 182.7% during the 1st quarter. Vontobel Holding Ltd. now owns 33,717 shares of the company's stock worth $1,080,000 after acquiring an additional 21,790 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in shares of Wayfair during the 1st quarter worth $320,000. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Down 0.9%

W opened at $82.42 on Friday. The stock has a fifty day moving average of $81.92 and a 200-day moving average of $57.64. The firm has a market capitalization of $10.69 billion, a P/E ratio of -34.34 and a beta of 3.03. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $91.77.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the company earned $0.47 EPS. Wayfair's revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 85,000 shares of the stock in a transaction on Monday, September 22nd. The stock was 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 approximately $32,465,795.67. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Niraj Shah sold 85,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total value of $7,377,150.00. Following the sale, the chief executive officer owned 374,137 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders have sold 910,000 shares of company stock valued at $70,308,337. 21.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

W has been the subject of several research reports. Guggenheim reissued a "buy" rating and set a $90.00 price objective on shares of Wayfair in a research note on Wednesday, August 27th. Zelman & Associates raised their price objective on Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Citigroup raised their price objective on Wayfair from $93.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, October 6th. UBS Group raised their price objective on Wayfair from $91.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $70.00 price objective (up from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.50.

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.

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