Nomura Asset Management Co. Ltd. Acquires 19,052 Shares of Wayfair Inc. $W

Nomura Asset Management Co. Ltd. boosted its holdings in Wayfair Inc. (NYSE:W) by 1,642.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,212 shares of the company’s stock after purchasing an additional 19,052 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wayfair were worth $2,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in Wayfair by 28,200.0% in the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 282 shares during the period. Webster Bank N. A. bought a new stake in Wayfair in the fourth quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in Wayfair in the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its stake in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after acquiring an additional 653 shares during the period. Finally, True Wealth Design LLC boosted its position in Wayfair by 37.7% in 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 in the last quarter. Institutional investors own 89.67% of the company’s stock.

Wayfair Trading Up 4.4%

Shares of W stock opened at $72.46 on Friday. Wayfair Inc. has a 1 year low of $43.69 and a 1 year high of $119.98. The firm’s 50 day moving average is $70.83 and its 200-day moving average is $86.75. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of -30.97, a PEG ratio of 3.65 and a beta of 3.02.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $2.89 billion. During the same quarter last year, the business posted $0.10 earnings per share. Wayfair’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven Conine sold 112,861 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the completion of the transaction, the director owned 436,212 shares in the company, valued at $33,806,430. The trade was a 20.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total transaction of $345,790.10. Following the completion of the transaction, the insider owned 111,158 shares of the company’s stock, valued at $8,024,496.02. This trade represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 463,785 shares of company stock worth $35,864,224 in the last quarter. Insiders own 18.44% of the company’s stock.

Analyst Ratings Changes

W has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price target on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. TD Cowen reduced their price target on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. The Goldman Sachs Group set a $79.00 price target on shares of Wayfair in a research report on Friday, May 1st. Finally, Citigroup reduced their price target on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given 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, the company 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.