Geode Capital Management LLC Grows Holdings in Wayfair Inc. $W

Geode Capital Management LLC increased its holdings in Wayfair Inc. (NYSE:W) by 3.7% in the 2nd quarter, Holdings Channel reports. The fund owned 1,661,496 shares of the company’s stock after buying an additional 59,083 shares during the quarter. Geode Capital Management LLC’s holdings in Wayfair were worth $84,985,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Alyeska Investment Group L.P. grew its holdings in Wayfair by 681.8% in 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 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after buying an additional 1,200,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Wayfair by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company’s stock worth $32,416,000 after buying an additional 2,736 shares during the last quarter. AQR Capital Management LLC increased its position in Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after buying an additional 276,471 shares in the last quarter. Finally, Beck Bode LLC purchased a new position in Wayfair during the first quarter valued at $13,322,000. Institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

W has been the topic of a number of recent research reports. Citigroup increased their target price on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC increased their price objective on shares of Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company raised their price objective on shares of Wayfair from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Raymond James Financial lifted their target price on shares of Wayfair from $90.00 to $130.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets set a $110.00 price target on shares of Wayfair and gave the company a “market perform” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.57.

Wayfair Stock Up 7.7%

Shares of NYSE W opened at $104.98 on Friday. The firm’s 50-day moving average price is $91.41 and its 200-day moving average price is $69.90. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $114.92. The company has a market cap of $13.68 billion, a PE ratio of -41.01 and a beta of 3.03.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity at Wayfair

In other news, CFO Kate Gulliver sold 9,612 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $102.20, for a total transaction of $982,346.40. Following the transaction, the chief financial officer directly owned 175,497 shares of the company’s stock, valued at $17,935,793.40. This represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Niraj Shah sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.10, for a total value of $3,153,000.00. Following the completion of the transaction, the chief executive officer owned 139,137 shares in the company, valued at approximately $14,623,298.70. This trade represents a 17.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 655,959 shares of company stock valued at $56,485,774 in the last quarter. 21.91% of the stock is currently owned by corporate insiders.

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.