OMERS ADMINISTRATION Corp Invests $1.69 Million in Wayfair Inc. $W

OMERS ADMINISTRATION Corp purchased a new stake in shares of Wayfair Inc. (NYSE:W) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 22,500 shares of the company’s stock, valued at approximately $1,692,000.

Other large investors have also made changes to their positions in the company. Webster Bank N. A. bought a new position in Wayfair during the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new stake in Wayfair in the fourth quarter valued at approximately $33,000. Piper Sandler & CO. bought a new stake in Wayfair in the fourth quarter worth approximately $34,000. Havemeyer Place LP bought a new stake in Wayfair in the fourth quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by corporate insiders.

Wayfair Trading Down 5.7%

Shares of Wayfair stock opened at $89.13 on Thursday. The firm has a fifty day simple moving average of $83.19 and a 200-day simple moving average of $82.54. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of -38.09, a PEG ratio of 5.24 and a beta of 2.96.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm earned $0.10 EPS. Wayfair’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Wayfair Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on W shares. Needham & Company LLC cut their price target on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research cut shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their target price on Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group reduced their price target on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.64.

Wayfair Company Profile

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.