Rhumbline Advisers Raises Stock Position in Wayfair Inc. $W

Key Points

• Rhumbline Advisers increased its stake in Wayfair by 4.3% in Q1, owning approximately 91,272 shares valued at nearly $2.9 million.
• Several institutional investors have significantly boosted their holdings in Wayfair, with Alyeska Investment Group increasing its stake by 681.8% during the same period.
• Wayfair's quarterly earnings exceeded expectations, reporting an EPS of $0.87 against an estimate of $0.33, and revenue of $3.27 billion, up 5% year-over-year.

Rhumbline Advisers grew its holdings in Wayfair Inc. (NYSE:W - Free Report) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,272 shares of the company's stock after acquiring an additional 3,725 shares during the period. Rhumbline Advisers owned about 0.07% of Wayfair worth $2,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its stake in Wayfair by 681.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after buying an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP boosted its holdings in shares of Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company's stock valued at $128,120,000 after buying an additional 1,200,000 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Wayfair by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company's stock valued at $32,416,000 after purchasing an additional 2,736 shares during the period. AQR Capital Management LLC boosted its stake 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 purchasing an additional 276,471 shares during the period. Finally, Beck Bode LLC acquired a new position in Wayfair during the 1st quarter valued at about $13,322,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on W. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 price target on shares of Wayfair in a research note on Monday, August 4th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $70.00 target price (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. Stifel Nicolaus set a $68.00 target price on shares of Wayfair and gave the stock a "hold" rating in a report on Tuesday, August 5th. Gordon Haskett upgraded shares of Wayfair from a "hold" rating to a "moderate buy" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company set a $84.00 price objective on shares of Wayfair and gave the company an "overweight" rating in a research note on Tuesday, August 5th. Two 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.19.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the completion of the sale, the insider owned 459,073 shares in the company, valued at $36,757,975.11. The trade was a 15.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Niraj Shah sold 85,000 shares of Wayfair stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the transaction, the chief executive officer directly owned 459,137 shares in the company, valued at $36,763,099.59. The trade was a 15.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,233,857 shares of company stock valued at $81,401,027. 21.91% of the stock is owned by corporate insiders.

Wayfair Trading Down 0.0%

W opened at $87.57 on Tuesday. The stock has a market capitalization of $11.35 billion, a PE ratio of -36.49 and a beta of 2.95. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77. The firm has a 50-day moving average price of $71.81 and a two-hundred day moving average price of $49.35.

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 the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. The company's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. On average, research analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

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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