Strs Ohio Buys New Stake in Wayfair Inc. $W

Key Points

• Strs Ohio has acquired a new stake in Wayfair Inc., purchasing 95,000 shares valued at approximately $3.04 million, representing about 0.07% of the company.
• Several institutional investors have significantly increased their holdings in Wayfair, with Alyeska Investment Group growing its stake by 681.8% to over 5.4 million shares.
• Wayfair's recent earnings report showed $0.87 EPS, exceeding estimates, with a revenue of $3.27 billion, reflecting a 5% year-over-year increase.

Strs Ohio bought a new stake in Wayfair Inc. (NYSE:W - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 95,000 shares of the company's stock, valued at approximately $3,043,000. Strs Ohio owned approximately 0.07% of Wayfair as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of W. Alyeska Investment Group L.P. grew its holdings 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 purchasing an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP grew its holdings in shares of Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after purchasing an additional 1,400,000 shares in the last quarter. Beck Bode LLC purchased a new position in shares of Wayfair in the first quarter valued at $13,322,000. MetLife Investment Management LLC grew its holdings 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 purchasing an additional 306,805 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in 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 buying an additional 276,471 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Price Performance

Shares of W stock opened at $87.57 on Tuesday. The business's fifty day moving average price is $71.81 and its 200 day moving average price is $49.35. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77. The firm has a market capitalization of $11.35 billion, a PE ratio of -36.49 and a beta of 2.95.

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, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. Equities research 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 dated 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 insider directly owned 459,073 shares in the company, valued at approximately $36,757,975.11. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 85,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total value of $6,805,950.00. Following the transaction, the chief executive officer owned 459,137 shares in the company, valued at $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,233,857 shares of company stock worth $81,401,027 over the last 90 days. Company insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on W shares. Wall Street Zen raised shares of Wayfair from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group lifted their price objective on shares of Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Jefferies Financial Group lifted their price objective on shares of Wayfair from $74.00 to $91.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler reaffirmed an "overweight" rating and set a $95.00 price objective on shares of Wayfair in a research note on Monday, August 4th. Finally, Sanford C. Bernstein reaffirmed 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 given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.19.

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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