Tredje AP fonden acquired a new stake in shares of Wayfair Inc. (NYSE:W – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 90,000 shares of the company’s stock, valued at approximately $9,037,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in Wayfair by 28,200.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 282 shares in the last quarter. Webster Bank N. A. bought a new position in Wayfair during the 4th quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new position in Wayfair during the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in Wayfair by 37.7% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on W. Citigroup cut their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC cut their target price on Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Guggenheim cut their target price on Wayfair from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wedbush cut their target price on Wayfair from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Wayfair from $114.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $99.89.
Insiders Place Their Bets
In other news, Director Steven Conine sold 112,861 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value of $8,746,727.50. Following the transaction, the director directly owned 436,212 shares in the company, valued at $33,806,430. This trade represents a 20.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total value of $8,823,243.87. Following the completion of the transaction, the chief executive officer owned 435,274 shares in the company, valued at approximately $33,729,382.26. This trade represents a 20.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 703,785 shares of company stock worth $54,004,173. Company insiders own 18.44% of the company’s stock.
Wayfair Trading Down 2.9%
Shares of W opened at $57.53 on Wednesday. The business’s fifty day simple moving average is $72.19 and its two-hundred day simple moving average is $89.69. Wayfair Inc. has a 12 month low of $34.46 and a 12 month high of $119.98. The company has a market cap of $7.59 billion, a price-to-earnings ratio of -24.58, a P/E/G ratio of 3.38 and a beta of 3.02.
Wayfair (NYSE:W – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, research analysts forecast that Wayfair Inc. will post 0.58 EPS for the current year.
Key Wayfair News
Here are the key news stories impacting Wayfair this week:
- Positive Sentiment: Wayfair profitability reportedly improved despite a muted category backdrop, reinforcing the view that the company is making progress on margins even in a sluggish home-furnishings market. Wayfair’s (W) Profitability Expanded Despite a Muted Category Backdrop
- Positive Sentiment: Wayfair announced a large-format retail store opening in Cincinnati, which could support brand awareness and give investors another data point on its omnichannel growth strategy. Wayfair to open massive store on Cincinnati’s East Side
- Positive Sentiment: Wayfair raised fresh capital via $400 million of senior secured notes to refinance debt, which may improve near-term liquidity management and extend its debt profile. Wayfair Issues New Senior Secured Notes to Refinance Debt
- Neutral Sentiment: Citigroup lowered its price target on Wayfair to $95 from $110, but kept a Buy rating, signaling continued upside expectations while trimming valuation expectations. Benzinga article on Citigroup price target cut
- Neutral Sentiment: Several shopping-deal articles highlighted promotions and Memorial Day discounts on Wayfair, which support traffic and sales interest but are not direct fundamental catalysts. The Viral Boneless Couch Just Dropped $350 in Price During Wayfair’s Memorial Day Sale
- Negative Sentiment: The lower price target from Citigroup may be pressuring the stock because it suggests less upside than previously modeled, even though the firm remains constructive overall.
Wayfair Company Profile
Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.
Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.
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