Los Angeles Capital Management LLC Acquires Shares of 5,902 Wayfair Inc. (NYSE:W)

Los Angeles Capital Management LLC bought a new position in Wayfair Inc. (NYSE:W) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,902 shares of the company’s stock, valued at approximately $311,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of Wayfair during the 1st quarter worth about $27,000. ORG Partners LLC purchased a new position in shares of Wayfair in the 1st quarter valued at about $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the 2nd quarter worth about $58,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Wayfair in the fourth quarter valued at approximately $74,000. Finally, Comerica Bank grew its holdings in Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after purchasing an additional 829 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now directly owns 43,926 shares in the company, valued at $2,463,809.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the transaction, the chief operating officer now directly owns 157,239 shares in the company, valued at $7,978,306.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The disclosure for this sale can be found here. Insiders sold a total of 40,102 shares of company stock worth $2,076,659 over the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Wayfair Price Performance

Shares of Wayfair stock opened at $47.35 on Friday. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -8.83 and a beta of 3.40. The business has a 50-day moving average of $46.78 and a 200 day moving average of $55.13. Wayfair Inc. has a 12 month low of $38.02 and a 12 month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the business earned ($1.27) EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Wayfair Inc. will post -2.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on W shares. Truist Financial decreased their target price on Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Gordon Haskett downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays dropped their target price on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Loop Capital cut their price objective on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a report on Friday, June 21st. Twelve equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.63.

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.