Invst LLC Makes New Investment in Wayfair Inc. $W

Invst LLC acquired a new stake in shares of Wayfair Inc. (NYSE:W) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,681 shares of the company’s stock, valued at approximately $872,000.

A number of other large investors have also made changes to their positions in W. Cornerstone Planning Group LLC raised its position in shares of Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 282 shares during the last quarter. Webster Bank N. A. acquired a new position in shares of Wayfair during the fourth quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in shares of Wayfair during the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its position in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after buying an additional 653 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of Wayfair by 37.7% during the fourth quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven Conine sold 7,139 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $78.55, for a total transaction of $560,768.45. Following the sale, the director directly owned 429,073 shares of the company’s stock, valued at $33,703,684.15. This represents a 1.64% decrease in their ownership of the stock. The transaction 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, CEO Niraj Shah sold 6,137 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $78.62, for a total transaction of $482,490.94. Following the sale, the chief executive officer directly owned 429,137 shares in the company, valued at $33,738,750.94. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 463,785 shares of company stock valued at $35,864,224. 18.44% of the stock is currently owned by insiders.

Wayfair Trading Down 5.5%

Shares of Wayfair stock opened at $68.48 on Friday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of -29.27, a P/E/G ratio of 3.59 and a beta of 3.02. Wayfair Inc. has a 1-year low of $44.04 and a 1-year high of $119.98. The firm’s 50-day moving average price is $70.61 and its two-hundred day moving average price is $86.63.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, equities research analysts predict that Wayfair Inc. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on W. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Stifel Nicolaus lowered their target price on shares of Wayfair from $100.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. TD Cowen lowered their target price on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $125.00 target price on shares of Wayfair in a research note on Friday, February 20th. Finally, Mizuho lowered their target price on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.89.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.