Northern Trust Corp lifted its stake in shares of Wayfair Inc (NYSE:W) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 201,847 shares of the company’s stock after purchasing an additional 2,910 shares during the period. Northern Trust Corp owned 0.23% of Wayfair worth $13,630,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in W. Kennedy Capital Management Inc. bought a new stake in Wayfair in the 4th quarter valued at $215,000. MANA Advisors LLC bought a new stake in Wayfair in the 4th quarter valued at $219,000. Delpha Capital Management LLC bought a new stake in Wayfair in the 4th quarter valued at $250,000. Suntrust Banks Inc. bought a new stake in Wayfair in the 4th quarter valued at $256,000. Finally, Brown Advisory Inc. bought a new stake in Wayfair in the 4th quarter valued at $290,000. Institutional investors own 75.21% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Saturday. Loop Capital increased their price target on Wayfair to $140.00 and gave the company a “buy” rating in a research note on Friday. Bank of America increased their price target on Wayfair from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, June 27th. Piper Jaffray Companies restated an “overweight” rating and issued a $150.00 price target (up previously from $96.00) on shares of Wayfair in a research note on Wednesday, June 27th. Finally, Canaccord Genuity increased their price target on Wayfair from $95.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, June 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $101.17.
In other news, insider Edmond Macri sold 600 shares of the stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $68.21, for a total transaction of $40,926.00. Following the sale, the insider now directly owns 500 shares of the company’s stock, valued at approximately $34,105. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Niraj Shah sold 4,000 shares of the stock in a transaction on Monday, June 25th. The stock was sold at an average price of $110.59, for a total value of $442,360.00. Following the sale, the chief executive officer now directly owns 43,393 shares in the company, valued at $4,798,831.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,808 shares of company stock worth $9,187,379. 37.75% of the stock is currently owned by insiders.
Shares of NYSE W opened at $118.76 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of -3.30. Wayfair Inc has a one year low of $55.33 and a one year high of $119.84. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of -42.41 and a beta of 1.57.
Wayfair (NYSE:W) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. Wayfair had a negative net margin of 5.73% and a negative return on equity of 31,507.11%. The business’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.48) earnings per share. equities analysts forecast that Wayfair Inc will post -4.5 earnings per share for the current fiscal year.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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