GAMMA Investing LLC Makes New Investment in Wayfair Inc. (NYSE:W)

GAMMA Investing LLC purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 505 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also modified their holdings of W. M&T Bank Corp raised its position in shares of Wayfair by 4.3% during the 3rd quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock worth $318,000 after buying an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Wayfair by 4.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock worth $409,000 after purchasing an additional 276 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair in the fourth quarter worth approximately $29,000. Raymond James & Associates boosted its stake in Wayfair by 9.3% during the 3rd quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock valued at $347,000 after purchasing an additional 486 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Wayfair by 2.3% during the 4th quarter. Arizona State Retirement System now owns 22,710 shares of the company’s stock valued at $1,401,000 after purchasing an additional 518 shares during the period. 89.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

W has been the subject of several research reports. Sanford C. Bernstein raised their target price on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Friday. Truist Financial boosted their target price on shares of Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. Mizuho initiated coverage on shares of Wayfair in a report on Tuesday, March 19th. They set a “buy” rating and a $72.00 target price for the company. Finally, StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.14.

Insider Activity

In other Wayfair news, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the transaction, the insider now directly owns 37,957 shares in the company, valued at $2,297,157.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the completion of the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 4,144 shares of Wayfair stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the transaction, the insider now owns 37,957 shares in the company, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,664 shares of company stock worth $5,289,900. 26.81% of the stock is owned by corporate insiders.

Wayfair Price Performance

W opened at $63.59 on Monday. The company has a market capitalization of $7.65 billion, a PE ratio of -11.86 and a beta of 3.32. Wayfair Inc. has a fifty-two week low of $33.85 and a fifty-two week high of $90.71. The business has a 50-day moving average of $59.92 and a 200-day moving average of $55.29.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. On average, equities research analysts expect that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

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.