Likewise, other research (not our own) has shown insider trading is also an effective piggybacking method that leads to higher returns. That’s why we believe retail investors should pay attention to insider transactions and keep them apprised of this information. Looking at Wayfair Inc (NYSE:W), there were no insider purchases during the first half of this year, but there were a few sales. The most recent and notable insider sales include 5,000 shares and 13,108 shares disposed of by Chief Financial Officer Michael Fleisher and CEO Niraj Shah on August 5, respectively. There were several other insider sales during the first week of August.
Taking all of this into account let us take a look at the recent actions encompassing Wayfair Inc (NYSE:W).
How have hedge funds been trading Wayfair Inc (NYSE:W)?
Among the hedge funds tracked by Insider Monkey, Andreas Halvorsen‘s Viking Global held the largest position in Wayfair Inc (NYSE:W) by the end of March, with around 1.1 million shares valued at $36.4 million, which represented a 118% increase of the holding over the quarter. Following Viking Global is Robert Pohly’s Samlyn Capital with around 1.0 million shares valued at $32.4 million by the end of first quarter. In addition, George Soros‘ Soros Fund Management opened a position in the company with some 400,000 shares. Other investors with new stakes in Wayfair include Drew Cupps’ Cupps Capital Management, Richard Chilton‘s Chilton Investment Company and Joseph A. Jolson’s Harvest Capital Strategies.
Overall hedge funds remained bullish on Wayfair Inc (NYSE:W) during the first quarter and they from the stock’s 35% growth since the end of March. Taking into account that the company also beat the estimates for the second quarter and the growth opportunities that lie ahead for Wayfair, we recommend buying this stock at the moment.