Banco Bilbao Vizcaya Argentaria S.A. Raises Stock Holdings in Wayfair Inc. $W

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its shares in Wayfair Inc. by 57% during the first quarter, bringing its total holdings to 45,562 shares valued at approximately $1.48 million.
• Several institutional investors, including True Wealth Design LLC and GAMMA Investing LLC, have significantly increased their positions in Wayfair, reflecting growing institutional interest in the company.
• Wayfair's stock has an average consensus rating of "Moderate Buy" from analysts, with a current price target averaging around $67.65, following a recent earnings report that surpassed expectations.

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,562 shares of the company's stock after purchasing an additional 16,535 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Wayfair were worth $1,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in W. True Wealth Design LLC lifted its holdings in Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after purchasing an additional 609 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Wayfair by 15,266.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company's stock valued at $148,000 after purchasing an additional 4,580 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Wayfair during the first quarter valued at about $215,000. Finally, Corient IA LLC purchased a new stake in Wayfair during the first quarter valued at about $240,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Stock Performance

W traded down $4.49 on Monday, reaching $73.35. The company had a trading volume of 7,101,851 shares, compared to its average volume of 5,357,506. The company has a market cap of $9.51 billion, a price-to-earnings ratio of -30.56 and a beta of 2.92. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $81.94. The business has a 50 day simple moving average of $62.78 and a 200 day simple moving average of $45.45.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.87 EPS 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 analysts' expectations of $3.11 billion. The company's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. As a group, equities research analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 199,473 shares of Wayfair stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares of the company's stock, valued at approximately $42,655,323.20. This trade represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 199,422 shares of Wayfair stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 544,137 shares in the company, valued at $42,660,340.80. This trade represents a 26.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,385,789 shares of company stock worth $87,587,895 over the last three months. Insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Argus raised shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Monday, May 12th. Raymond James Financial reissued a "strong-buy" rating on shares of Wayfair in a report on Tuesday, August 5th. Needham & Company LLC increased their price target on shares of Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Truist Financial set a $40.00 price target on shares of Wayfair in a report on Friday, May 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.65.

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.