QRG Capital Management Inc. Buys New Holdings in Wayfair Inc. $W

Key Points

• QRG Capital Management Inc. has acquired a new stake in Wayfair, purchasing 6,688 shares valued at approximately $342,000 in the second quarter.
• Wayfair's stock has seen significant activity with multiple institutional investors increasing their holdings, including AQR Capital Management, which boosted its stake by 111.7%.
• Wayfair's recent quarterly earnings beat analysts' expectations with an EPS of $0.87 and revenues of $3.27 billion, reflecting a 5.0% year-over-year increase.

QRG Capital Management Inc. bought a new stake in shares of Wayfair Inc. (NYSE:W - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,688 shares of the company's stock, valued at approximately $342,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Wayfair by 111.7% during the 1st 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. Jacobs Levy Equity Management Inc. purchased a new stake in Wayfair during the 1st quarter valued at about $452,000. Signaturefd LLC boosted its holdings in Wayfair by 10.1% during the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company's stock valued at $19,264,000 after acquiring an additional 34,507 shares during the period. GAMMA Investing LLC boosted its holdings in Wayfair by 5,850.4% during the 1st quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after acquiring an additional 41,538 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Wayfair by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock valued at $703,000 after acquiring an additional 9,372 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Wayfair from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Wells Fargo & Company set a $84.00 price target on Wayfair and gave the company an "overweight" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their price target on Wayfair from $31.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Evercore ISI upped their price target on Wayfair from $85.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, September 16th. Finally, Stifel Nicolaus set a $68.00 price target on Wayfair and gave the company a "hold" rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.73.

Insider Buying and Selling at Wayfair

In other Wayfair 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 85,000 shares of the stock in a transaction on Monday, September 22nd. The shares were 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 in the company, 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 923,857 shares of company stock worth $71,090,564. Company insiders own 21.91% of the company's stock.

Wayfair Stock Down 5.9%

W stock opened at $74.24 on Friday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $91.77. The firm has a market cap of $9.63 billion, a PE ratio of -30.93 and a beta of 3.03. The business has a 50 day moving average of $81.26 and a 200 day moving average of $56.01.

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

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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