Maverick Capital Ltd. Takes Position in Wayfair Inc (NYSE:W)

Maverick Capital Ltd. bought a new stake in shares of Wayfair Inc (NYSE:W) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 56,425 shares of the company’s stock, valued at approximately $3,015,000.

Other large investors have also bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Wayfair by 521.6% during the 1st quarter. Parallel Advisors LLC now owns 547 shares of the company’s stock valued at $29,000 after acquiring an additional 459 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Wayfair by 133.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $34,000 after acquiring an additional 363 shares during the period. Schroder Investment Management Group purchased a new position in Wayfair in the 1st quarter valued at about $46,000. Hall Laurie J Trustee purchased a new position in Wayfair in the 4th quarter valued at about $47,000. Finally, Credit Agricole S A purchased a new position in Wayfair in the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 88.27% of the company’s stock.

In related news, CFO Michael D. Fleisher sold 6,196 shares of Wayfair stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $79.82, for a total value of $494,564.72. Following the completion of the sale, the chief financial officer now owns 166,105 shares in the company, valued at approximately $13,258,501.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael D. Fleisher sold 458 shares of Wayfair stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $195.75, for a total transaction of $89,653.50. Following the completion of the sale, the chief financial officer now owns 116,118 shares of the company’s stock, valued at approximately $22,730,098.50. The disclosure for this sale can be found here. Insiders sold a total of 80,163 shares of company stock valued at $12,477,146 in the last quarter. 30.86% of the stock is owned by insiders.

Shares of W stock traded down $8.92 during trading on Wednesday, hitting $198.61. 743,215 shares of the stock traded hands, compared to its average volume of 3,656,322. The firm has a market capitalization of $19.69 billion, a P/E ratio of -18.05 and a beta of 3.28. The firm’s fifty day moving average price is $176.71 and its 200-day moving average price is $105.73. Wayfair Inc has a 52-week low of $21.70 and a 52-week high of $221.54.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($2.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.60) by $0.30. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.62) EPS. On average, equities analysts forecast that Wayfair Inc will post -6.22 earnings per share for the current year.

A number of brokerages recently weighed in on W. Credit Suisse Group raised their price target on shares of Wayfair from $110.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Citigroup lowered shares of Wayfair from a “neutral” rating to a “sell” rating and raised their price target for the company from $75.00 to $130.00 in a research note on Friday, May 15th. UBS Group raised their price target on shares of Wayfair from $65.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley decreased their price target on shares of Wayfair from $55.00 to $30.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 17th. Finally, Stifel Nicolaus lowered shares of Wayfair from a “hold” rating to a “sell” rating and raised their price target for the company from $115.00 to $135.00 in a research note on Tuesday, May 5th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $137.29.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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