Maverick Capital Ltd. Has $38.05 Million Position in Wayfair Inc. (NYSE:W)

Maverick Capital Ltd. lifted its stake in shares of Wayfair Inc. (NYSE:W) by 46.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 721,618 shares of the company’s stock after acquiring an additional 227,908 shares during the period. Maverick Capital Ltd.’s holdings in Wayfair were worth $38,051,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Capital World Investors lifted its position in shares of Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after acquiring an additional 103,369 shares during the period. Vanguard Group Inc. raised its holdings in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP raised its holdings in Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares during the last quarter. Finally, Norges Bank acquired a new position in Wayfair during the fourth quarter worth $47,374,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jon Blotner sold 4,801 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total value of $244,610.95. Following the sale, the insider now directly owns 53,152 shares of the company’s stock, valued at $2,708,094.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. The disclosure for this sale can be found here. Insiders sold 41,113 shares of company stock worth $2,126,623 over the last quarter. 26.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on W. The Goldman Sachs Group lowered their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays lowered their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada lowered their price objective on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Wedbush lowered their target price on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.83.

Wayfair Stock Performance

W opened at $54.15 on Friday. The firm has a market cap of $6.69 billion, a P/E ratio of -10.10 and a beta of 3.40. The firm has a 50-day moving average of $46.36 and a 200 day moving average of $54.68. Wayfair Inc. has a fifty-two week low of $38.02 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last issued its earnings results 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 business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned ($1.27) EPS. Equities research analysts predict that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

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.