Parcion Private Wealth LLC purchased a new position in shares of Wayfair Inc. (NYSE:W – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,914 shares of the company’s stock, valued at approximately $709,000.
Other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after buying an additional 296,233 shares during the last quarter. Atreides Management LP boosted its holdings in shares of Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after acquiring an additional 560,133 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Wayfair by 46.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after acquiring an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Wayfair by 42.2% during the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after acquiring an additional 242,791 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Wayfair by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock worth $23,377,000 after acquiring an additional 5,586 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on W shares. Benchmark initiated coverage on shares of Wayfair in a report on Tuesday, July 7th. They issued a “hold” rating on the stock. Rosenblatt Securities assumed coverage on shares of Wayfair in a research note on Thursday, August 20th. They set a “buy” rating and a $125.00 price target for the company. Mizuho set a $132.00 price target on shares of Wayfair in a research note on Thursday. Sanford C. Bernstein reissued an “outperform” rating on shares of Wayfair in a research report on Tuesday, September 1st. Finally, Guggenheim lifted their price objective on shares of Wayfair from $100.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.04.
Read Our Latest Report on Wayfair
Wayfair Stock Down 3.5%
W opened at $115.93 on Friday. The business has a 50 day moving average price of $104.78 and a two-hundred day moving average price of $89.19. The company has a market cap of $15.30 billion, a PE ratio of -47.13, a P/E/G ratio of 4.17 and a beta of 3.02. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $120.90.
Wayfair (NYSE:W – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Wayfair Inc. will post 0.93 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CTO Fiona Tan sold 8,000 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total transaction of $920,000.00. Following the completion of the sale, the chief technology officer directly owned 196,698 shares of the company’s stock, valued at $22,620,270. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 546 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $110.00, for a total value of $60,060.00. Following the sale, the insider directly owned 115,885 shares of the company’s stock, valued at approximately $12,747,350. This represents a 0.47% 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. Insiders have sold 676,570 shares of company stock worth $72,176,934 over the last three months. 18.44% of the stock is owned by company insiders.
Wayfair Profile
Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.
The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.
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