Stonehearth Capital Management LLC Takes $265,000 Position in Wayfair Inc. $W

Key Points

• Stonehearth Capital Management LLC established a new stake in Wayfair Inc., purchasing 5,185 shares valued at approximately $265,000 in the 2nd quarter.
• Wayfair's earnings report showed a profit of $0.87 earnings per share for the quarter, exceeding estimates of $0.33, along with a revenue increase of 5.0% year-over-year.
• Several analysts have increased their price targets for Wayfair, with JPMorgan and Needham raising their targets to $82.00 and $83.00 respectively, suggesting a positive outlook for the stock.

Stonehearth Capital Management LLC bought a new stake in Wayfair Inc. (NYSE:W - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,185 shares of the company's stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its stake in shares of Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP grew its stake in shares of Wayfair by 100.0% during the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock worth $124,096,000 after purchasing an additional 1,400,000 shares during the period. Beck Bode LLC acquired a new stake in shares of Wayfair during the first quarter worth $13,322,000. MetLife Investment Management LLC grew its stake in shares of Wayfair by 18,338.6% during the first quarter. MetLife Investment Management LLC now owns 308,478 shares of the company's stock worth $9,881,000 after purchasing an additional 306,805 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Wayfair by 111.7% during the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock worth $16,786,000 after purchasing an additional 276,471 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Down 2.7%

W stock opened at $87.72 on Friday. The business's 50-day moving average price is $71.16 and its two-hundred day moving average price is $48.91. The firm has a market cap of $11.37 billion, a PE ratio of -36.55 and a beta of 2.95. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.87 earnings per share 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 the consensus estimate of $3.11 billion. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on W shares. JPMorgan Chase & Co. lifted their price objective on Wayfair from $75.00 to $82.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 5th. Needham & Company LLC lifted their price objective on Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. UBS Group lifted their price objective on Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $70.00 target price (up from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.19.

Insider Activity

In other news, CEO Niraj Shah sold 199,422 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares of the company's stock, valued at $42,660,340.80. This represents a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Conine sold 199,473 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares of the company's stock, valued at $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,240,204 shares of company stock valued at $81,706,986 over the last ninety days. 21.91% of the stock is owned by insiders.

Wayfair Company 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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