RFG Advisory LLC has taken a significant position in Wayfair Inc. (NYSE: W), purchasing **5,710 shares** valued at approximately **$292,000** during the second quarter of 2023. This investment was reported in RFG’s recent **13F filing** with the **Securities and Exchange Commission**. The move reflects broader interest in Wayfair, as several institutional investors have recently adjusted their stakes in the company.
AQR Capital Management LLC notably increased its position in Wayfair by **111.7%** during the first quarter, now holding **524,072 shares** valued at **$16.79 million** after acquiring an additional **276,471 shares**. Other notable investments include Jacobs Levy Equity Management Inc., which purchased a new stake worth approximately **$452,000**, and Signaturefd LLC, which raised its holdings by **10.1%** to own **376,697 shares**, now valued at **$19.26 million**. Additionally, Rhumbline Advisers and GAMMA Investing LLC have also expanded their positions in Wayfair, highlighting a strong institutional interest.
As a result, institutional investors and hedge funds collectively own **89.67%** of Wayfair’s stock, indicating a robust backing from significant financial players.
Current Stock Performance
Wayfair’s shares opened at **$82.42** on Monday, reflecting a **0.9%** decline. The company has a market capitalization of approximately **$10.69 billion**, a **P/E ratio** of **-34.34**, and a beta of **3.03**. The stock has demonstrated volatility, with a one-year low of **$20.41** and a high of **$91.77**. The **50-day simple moving average** stands at **$81.92**, while the **200-day moving average** is **$57.87**.
In related news, insider transactions have recently drawn attention. On **September 22**, both **Steven Conine**, co-founder, and **Niraj Shah**, the Chief Executive Officer, sold **85,000 shares** at an average price of **$86.79**, each transaction totaling **$7.38 million**. Following these sales, Conine and Shah hold **374,073** and **374,137 shares**, respectively, marking an **18.52%** and **18.51%** reduction in their ownership. Over the past 90 days, insiders have sold a total of **790,000 shares** valued at **$63.59 million**.
Analyst Ratings and Market Outlook
Equities research analysts have been actively evaluating Wayfair’s stock, with several raising their price targets. **Needham & Company LLC** increased its price objective from **$40.00** to **$83.00**, maintaining a “buy” rating. **Wells Fargo & Company** also raised its target from **$84.00** to **$90.00** and assigned an “overweight” rating. Other analysts, including **Gordon Haskett** and **UBS Group**, have similarly upgraded their ratings, with UBS setting a target price of **$102.00**.
Overall, **MarketBeat** indicates that Wayfair has received a consensus rating of “Moderate Buy,” with a target price of **$74.50**. The stock has garnered attention, with two analysts rating it a Strong Buy, fifteen issuing Buy ratings, ten assigning Hold ratings, and two recommending Sell.
Wayfair Inc. continues to be a prominent player in the e-commerce sector, offering approximately **30 million products** for home improvement through its various platforms, including **Wayfair**, **Joss & Main**, and **AllModern**. As the landscape of online retail evolves, Wayfair’s strategic positioning and institutional support may play a crucial role in its future trajectory.
