Magnus Financial Group LLC Buys New Stake in Wayfair Inc. (NYSE:W)

Magnus Financial Group LLC bought a new stake in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,243 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Wayfair in the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new position in shares of Wayfair in the fourth quarter valued at $31,000. BluePath Capital Management LLC bought a new stake in shares of Wayfair during the 3rd quarter worth $34,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Wayfair in the 3rd quarter worth $34,000. Finally, Flynn Zito Capital Management LLC bought a new stake in Wayfair during the fourth quarter valued at about $249,000. Institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 4,144 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $60.52, for a total transaction of $250,794.88. Following the sale, the insider now owns 37,957 shares in the company, valued at approximately $2,297,157.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kate Gulliver sold 3,395 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $65.04, for a total transaction of $220,810.80. Following the completion of the transaction, the chief financial officer now directly owns 82,560 shares in the company, valued at $5,369,702.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 4,144 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the completion of the transaction, the insider now owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The disclosure for this sale can be found here. Insiders sold a total of 89,808 shares of company stock valued at $5,445,222 over the last quarter. 23.50% of the stock is owned by corporate insiders.

Wayfair Trading Down 1.6 %

NYSE:W opened at $51.17 on Tuesday. The stock has a market cap of $6.16 billion, a P/E ratio of -7.85 and a beta of 3.29. The stock has a 50 day simple moving average of $59.58 and a 200 day simple moving average of $55.04. Wayfair Inc. has a 1-year low of $29.51 and a 1-year high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, sell-side analysts forecast that Wayfair Inc. will post -3.37 EPS for the current year.

Analyst Upgrades and Downgrades

W has been the topic of several research analyst reports. BMO Capital Markets assumed coverage on shares of Wayfair in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $57.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada reduced their price target on shares of Wayfair from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Truist Financial decreased their price target on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.21.

Wayfair Company Profile

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.