Wayfair Inc. $W Stock: Brighton Jones LLC Grows Holdings

Key Points

• Brighton Jones LLC more than doubled its Wayfair stake in the third quarter, adding 10,213 shares to hold 19,822 shares worth about $2.03 million. Institutional investors collectively own 89.67% of the stock.
• Wayfair reported quarterly earnings of $0.93 per share, beating the $0.80 consensus estimate, while revenue of $3.42 billion topped forecasts and rose 9.7% year over year.
• Analyst sentiment was broadly positive: Wayfair has a consensus “Moderate Buy” rating and a $129 average price target. Shares opened at $116.78, up 4.5% according to the article.

Brighton Jones LLC increased its holdings in Wayfair Inc. (NYSE:W - Free Report) by 106.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,822 shares of the company's stock after buying an additional 10,213 shares during the period. Brighton Jones LLC's holdings in Wayfair were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ethic Inc. bought a new position in Wayfair in the 3rd quarter valued at about $210,000. Parallel Advisors LLC lifted its holdings in shares of Wayfair by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 1,544 shares of the company's stock worth $158,000 after acquiring an additional 274 shares during the period. Heritage Family Offices LLP acquired a new stake in shares of Wayfair during the 3rd quarter worth approximately $45,000. Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of Wayfair during the 3rd quarter worth approximately $358,000. Finally, QTR Family Wealth LLC bought a new position in Wayfair in the third quarter valued at approximately $268,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Up 4.5%

NYSE W opened at $116.78 on Tuesday. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $127.99. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 127.38, a price-to-earnings-growth ratio of 4.26 and a beta of 3.10. The business's fifty day moving average is $106.14 and its 200 day moving average is $89.22.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. Wayfair had a negative return on equity of 5.14% and a negative net margin of 1.21%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company earned $0.70 earnings per share. The business's quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Wayfair Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Wayfair from $133.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday. Raymond James Financial reiterated a "strong-buy" rating and issued a $135.00 price target on shares of Wayfair in a research note on Wednesday, November 4th. Zacks Research raised Wayfair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 3rd. Piper Sandler upped their price objective on Wayfair from $133.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 20th. Finally, Sanford C. Bernstein lifted their target price on Wayfair from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and a consensus price target of $129.00.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 500 shares of the firm's stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the transaction, the insider directly owned 115,385 shares of the company's stock, valued at $13,846,200. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of Wayfair stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the transaction, the chief executive officer directly owned 105,137 shares in the company, valued at $11,696,491.25. The trade was a 52.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 692,070 shares of company stock valued at $74,096,044 in the last quarter. 18.44% of the stock is currently owned by corporate insiders.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares.

The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets.

Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.

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