Envestnet Asset Management Inc. lifted its position in Wayfair Inc (NYSE:W) by 178.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,191 shares of the company’s stock after purchasing an additional 5,254 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Wayfair were worth $918,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of W. Nisa Investment Advisors LLC grew its position in Wayfair by 625.0% in the second quarter. Nisa Investment Advisors LLC now owns 17,400 shares of the company’s stock valued at $2,540,000 after acquiring an additional 15,000 shares during the period. Randolph Co Inc bought a new stake in Wayfair in the second quarter valued at $292,000. Oregon Public Employees Retirement Fund bought a new stake in Wayfair in the second quarter valued at $1,635,000. IFM Investors Pty Ltd grew its position in Wayfair by 37.5% in the second quarter. IFM Investors Pty Ltd now owns 4,499 shares of the company’s stock valued at $657,000 after acquiring an additional 1,228 shares during the period. Finally, Howland Capital Management LLC grew its position in Wayfair by 218.0% in the second quarter. Howland Capital Management LLC now owns 22,269 shares of the company’s stock valued at $3,251,000 after acquiring an additional 15,266 shares during the period. Institutional investors and hedge funds own 75.91% of the company’s stock.
In other Wayfair news, insider Edmond Macri sold 300 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $124.63, for a total value of $37,389.00. Following the transaction, the insider now owns 950 shares of the company’s stock, valued at $118,398.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas Netzer sold 4,955 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $73.94, for a total value of $366,372.70. Following the completion of the transaction, the chief operating officer now directly owns 6,309 shares in the company, valued at approximately $466,487.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,093 shares of company stock worth $3,727,381. 33.86% of the stock is owned by company insiders.
Wayfair stock opened at $84.22 on Friday. The business’s 50-day simple moving average is $106.28 and its 200 day simple moving average is $130.71. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of -15.01 and a beta of 1.86. Wayfair Inc has a 12-month low of $76.60 and a 12-month high of $173.72.
Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($2.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.89) by $0.66. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.28 billion. Wayfair’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.28) EPS. Research analysts predict that Wayfair Inc will post -10.59 earnings per share for the current fiscal year.
Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Wayfair from $130.00 to $117.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. KeyCorp restated a “hold” rating on shares of Wayfair in a report on Friday, November 1st. Zacks Investment Research upgraded Wayfair from a “sell” rating to a “hold” rating and set a $138.00 target price on the stock in a report on Saturday, September 14th. Needham & Company LLC cut Wayfair from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Deutsche Bank decreased their target price on Wayfair from $142.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Wayfair has a consensus rating of “Hold” and a consensus target price of $138.79.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
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