Praxis Investment Management Inc. Buys Shares of 5,090 Wayfair Inc. $W

Praxis Investment Management Inc. bought a new stake in shares of Wayfair Inc. (NYSE:W) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,090 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors also recently bought and sold shares of W. Alyeska Investment Group L.P. raised its holdings in Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock valued at $174,969,000 after buying an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP raised its holdings in Wayfair by 42.9% during the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after buying an additional 1,200,000 shares in the last quarter. Beck Bode LLC bought a new position in Wayfair during the first quarter valued at about $13,322,000. MetLife Investment Management LLC raised its holdings in Wayfair by 18,338.6% during the first quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock valued at $9,881,000 after buying an additional 306,805 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Wayfair by 111.7% during the first 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. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Down 0.9%

W stock opened at $82.42 on Friday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $91.77. The company has a market cap of $10.69 billion, a PE ratio of -34.34 and a beta of 3.03. The business’s 50-day simple moving average is $81.92 and its 200 day simple moving average is $57.64.

Wayfair (NYSE:W) last released its earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on W shares. Sanford C. Bernstein restated a “market perform” rating and set a $70.00 target price (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. Mizuho raised their price target on Wayfair from $50.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Needham & Company LLC raised their price target on Wayfair from $40.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Wayfair in a research report on Tuesday, August 5th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Wayfair in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.50.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the sale, the insider directly owned 374,073 shares of the company’s stock, valued at approximately $32,465,795.67. The trade was a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 85,000 shares of Wayfair stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total value of $7,377,150.00. Following the sale, the chief executive officer directly owned 374,137 shares in the company, valued at $32,471,350.23. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 910,000 shares of company stock worth $70,308,337. 21.91% of the stock is owned by company insiders.

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.