Intrepid Financial Planning Group LLC Acquires New Holdings in Wayfair Inc. $W

Intrepid Financial Planning Group LLC bought a new position in Wayfair Inc. (NYSE:W) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,000 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also modified their holdings of W. Parallel Advisors LLC lifted its stake in shares of Wayfair by 229.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after purchasing an additional 1,097 shares during the last quarter. IFP Advisors Inc raised its holdings in Wayfair by 49.3% during the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after buying an additional 617 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of Wayfair in the second quarter worth about $102,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Wayfair by 15,266.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock worth $148,000 after acquiring an additional 4,580 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Wayfair during the 1st quarter worth about $215,000. Institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $105.09, for a total transaction of $3,152,700.00. Following the sale, the insider directly owned 139,073 shares of the company’s stock, valued at $14,615,181.57. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kate Gulliver sold 9,612 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $102.20, for a total value of $982,346.40. Following the completion of the transaction, the chief financial officer directly owned 175,497 shares of the company’s stock, valued at approximately $17,935,793.40. This trade represents a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 655,959 shares of company stock worth $56,485,774 in the last three months. Corporate insiders own 21.91% of the company’s stock.

Wayfair Trading Down 3.7%

Shares of Wayfair stock opened at $95.82 on Wednesday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $114.92. The company’s fifty day simple moving average is $90.70 and its 200-day simple moving average is $68.98. The company has a market cap of $12.49 billion, a price-to-earnings ratio of -37.43 and a beta of 3.03.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. Wayfair’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. As a group, research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on W shares. Oppenheimer raised their price objective on Wayfair from $100.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Gordon Haskett raised shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Tuesday, October 28th. Evercore ISI boosted their price objective on shares of Wayfair from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $125.00 price objective (up from $98.00) on shares of Wayfair in a report on Wednesday, October 29th. Finally, Wedbush reiterated a “neutral” rating on shares of Wayfair in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.57.

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.