Headlands Technologies LLC Buys New Position in Wayfair Inc. $W

Headlands Technologies LLC purchased a new position in Wayfair Inc. (NYSE:W) in the second quarter, Holdings Channel.com reports. The fund purchased 6,510 shares of the company’s stock, valued at approximately $602,000.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wayfair by 29.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock worth $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Wayfair by 30.4% during the 2nd quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock valued at $375,000 after purchasing an additional 1,710 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Wayfair by 12.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after buying an additional 270 shares during the period. M&T Bank Corp purchased a new position in shares of Wayfair during the second quarter valued at about $262,000. Finally, EverSource Wealth Advisors LLC increased 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 period. Institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on W shares. Rosenblatt Securities initiated coverage on shares of Wayfair in a report on Thursday, August 20th. They issued a “buy” rating and a $125.00 price objective for the company. Citigroup increased their target price on Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Robert W. Baird set a $116.00 target price on Wayfair in a research note on Wednesday, August 5th. BMO Capital Markets lifted their price target on Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $120.00 price target on shares of Wayfair in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $119.89.

Insider Activity at Wayfair

In other Wayfair news, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the transaction, the director owned 360,073 shares in the company, valued at approximately $37,217,145.28. The trade was a 16.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of Wayfair stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the chief executive officer owned 360,137 shares of the company’s stock, valued at $37,223,760.32. The trade was a 16.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 143,925 shares of company stock valued at $14,834,198 in the last 90 days. Corporate insiders own 18.44% of the company’s stock.

Wayfair Price Performance

NYSE:W opened at $94.61 on Thursday. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98. The company’s 50-day simple moving average is $96.02 and its 200 day simple moving average is $81.94. The firm has a market capitalization of $12.49 billion, a P/E ratio of -38.46, a PEG ratio of 3.77 and a beta of 2.99.

Wayfair (NYSE:W) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the business earned $0.87 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Wayfair Inc. will post 0.83 earnings per share for the current fiscal year.

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.