Oppenheimer & Co. Inc. Has $536,000 Stock Holdings in Wayfair Inc. (NYSE:W)

Oppenheimer & Co. Inc. lifted its holdings in Wayfair Inc. (NYSE:W) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,541 shares of the company’s stock after buying an additional 1,479 shares during the period. Oppenheimer & Co. Inc.’s holdings in Wayfair were worth $536,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares during the period. Highland Peak Capital LLC purchased a new stake in Wayfair during the 2nd quarter valued at about $5,165,000. Sei Investments Co. grew its position in Wayfair by 32.8% in the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after purchasing an additional 32,968 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Wayfair during the 2nd quarter valued at about $8,189,000. Finally, Caxton Associates LP purchased a new position in shares of Wayfair during the 1st quarter valued at about $1,164,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 6,055 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the transaction, the insider now directly owns 62,817 shares in the company, valued at approximately $3,333,698.19. This trade represents a 8.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This trade represents a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,868 shares of company stock worth $2,003,248 in the last 90 days. Company insiders own 23.50% of the company’s stock.

Analysts Set New Price Targets

W has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler dropped their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus lowered their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Loop Capital boosted their price target on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Citigroup reduced their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Up 4.0 %

Wayfair stock opened at $42.39 on Thursday. The firm has a market cap of $5.31 billion, a PE ratio of -9.44 and a beta of 3.46. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18. The company’s 50 day moving average is $48.02 and its two-hundred day moving average is $51.14.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business earned ($1.38) earnings per share. On average, equities research analysts anticipate that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

About Wayfair

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.