BloombergSen Inc. Purchases 8,704 Shares of Wayfair Inc. $W

BloombergSen Inc. raised its position in Wayfair Inc. (NYSE:W) by 24.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,312 shares of the company’s stock after acquiring an additional 8,704 shares during the quarter. Wayfair makes up 0.1% of BloombergSen Inc.’s portfolio, making the stock its 22nd biggest holding. BloombergSen Inc.’s holdings in Wayfair were worth $2,266,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $42,000 after acquiring an additional 609 shares during the period. Parallel Advisors LLC raised its stake in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after buying an additional 1,097 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Wayfair by 15,266.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock worth $148,000 after buying an additional 4,580 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Wayfair in the first quarter worth about $215,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Wayfair in the second quarter worth about $234,000. Institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on W shares. Wall Street Zen raised Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Jefferies Financial Group raised their price objective on Wayfair from $91.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Zacks Research downgraded Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday. Mizuho lifted their target price on Wayfair from $50.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Gordon Haskett raised Wayfair from a “hold” rating to a “moderate buy” rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.27.

Wayfair Price Performance

NYSE W opened at $86.54 on Thursday. The stock has a market capitalization of $11.22 billion, a PE ratio of -36.06 and a beta of 3.03. The business has a 50 day simple moving average of $78.90 and a two-hundred day simple moving average of $53.52. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77.

Wayfair (NYSE:W) last released its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.11 billion. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. On average, analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Niraj Shah sold 199,422 shares of Wayfair stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the transaction, the chief executive officer owned 544,137 shares in the company, valued at approximately $42,660,340.80. The trade was a 26.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 199,473 shares of Wayfair stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the completion of the transaction, the insider owned 544,073 shares of the company’s stock, valued at approximately $42,655,323.20. This trade represents a 26.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 923,857 shares of company stock valued at $71,090,564. Company insiders own 21.91% of the company’s stock.

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.