Prospera Financial Services Inc Purchases Shares of 19,689 Wayfair Inc. $W

Prospera Financial Services Inc acquired a new position in Wayfair Inc. (NYSE:W) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,689 shares of the company’s stock, valued at approximately $1,007,000.

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

Analyst Ratings Changes

Several research firms have weighed in on W. Sanford C. Bernstein restated a “market perform” rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Oppenheimer upped their target price on shares of Wayfair from $100.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC lifted their price target on shares of Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Gordon Haskett upgraded shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Tuesday, October 28th. Finally, Argus raised their price objective on Wayfair from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.39.

Insider Buying and Selling

In other news, CTO Fiona Tan sold 6,347 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $100.54, for a total value of $638,127.38. Following the sale, the chief technology officer owned 198,860 shares of the company’s stock, valued at approximately $19,993,384.40. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Niraj Shah sold 30,000 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.10, for a total value of $3,153,000.00. Following the completion of the sale, the chief executive officer owned 139,137 shares in the company, valued at approximately $14,623,298.70. The trade was a 17.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 825,959 shares of company stock worth $70,097,674. 21.91% of the stock is currently owned by corporate insiders.

Wayfair Trading Up 1.2%

Shares of NYSE:W opened at $111.90 on Thursday. The company has a market cap of $14.59 billion, a price-to-earnings ratio of -43.71 and a beta of 3.03. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $114.92. The company has a 50-day moving average price of $89.54 and a 200 day moving average price of $66.77.

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

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.