Maverick Capital Ltd. Boosts Holdings in Wayfair Inc. $W

by · The Markets Daily

Maverick Capital Ltd. boosted its stake in Wayfair Inc. (NYSE:W – Free Report) by 10.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 74,110 shares of the company’s stock after purchasing an additional 6,894 shares during the period. Maverick Capital Ltd.’s holdings in Wayfair were worth $3,790,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of W. EverSource Wealth Advisors LLC increased its stake in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the last quarter. Parallel Advisors LLC grew its holdings in Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after purchasing an additional 1,097 shares during the period. IFP Advisors Inc grew its holdings in Wayfair by 49.3% during the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after purchasing an additional 617 shares during the period. GFG Capital LLC purchased a new stake in Wayfair in the second quarter worth $102,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after buying an additional 270 shares during the period. 89.67% of the stock is owned by institutional investors.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 150,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00. Following the sale, the chief executive officer owned 729,137 shares of the company’s stock, valued at $77,222,899.67. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the sale, the insider owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. This trade represents a 17.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 955,959 shares of company stock worth $88,260,274 over the last 90 days. Corporate insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on W. The Goldman Sachs Group increased their price target on Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Stifel Nicolaus set a $100.00 price objective on shares of Wayfair in a report on Wednesday, October 29th. Evercore ISI lifted their target price on shares of Wayfair from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $75.00 price target on shares of Wayfair in a research report on Friday, October 24th. Finally, Needham & Company LLC raised their price objective on shares of Wayfair from $83.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $105.29.

Get Our Latest Analysis on Wayfair

Wayfair Price Performance

Shares of NYSE:W opened at $99.53 on Friday. The firm has a fifty day moving average price of $95.74 and a two-hundred day moving average price of $76.30. The company has a market cap of $12.97 billion, a price-to-earnings ratio of -38.88 and a beta of 3.25. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92.

Wayfair (NYSE:W – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

About Wayfair

(Free Report)

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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