PNC Financial Services Group Inc. Has $216,000 Position in Wayfair Inc. $W

PNC Financial Services Group Inc. lessened its stake in Wayfair Inc. (NYSE:W) by 24.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,224 shares of the company’s stock after selling 1,364 shares during the period. PNC Financial Services Group Inc.’s holdings in Wayfair were worth $216,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in Wayfair by 5.5% in the 2nd quarter. Amalgamated Bank now owns 5,348 shares of the company’s stock valued at $273,000 after acquiring an additional 278 shares in the last quarter. Swiss National Bank raised its stake in shares of Wayfair by 0.3% in the first quarter. Swiss National Bank now owns 183,300 shares of the company’s stock valued at $5,871,000 after purchasing an additional 600 shares in the last quarter. IFP Advisors Inc lifted its position in Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock worth $96,000 after purchasing an additional 617 shares during the period. Teacher Retirement System of Texas boosted its stake in Wayfair by 6.6% during the second quarter. Teacher Retirement System of Texas now owns 14,730 shares of the company’s stock worth $753,000 after buying an additional 910 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Wayfair by 229.0% during 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 in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 6,347 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $100.54, for a total transaction of $638,127.38. Following the sale, the chief technology officer owned 198,860 shares of the company’s stock, valued at $19,993,384.40. This represents a 3.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kate Gulliver sold 9,612 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $102.20, for a total transaction of $982,346.40. Following the completion of the transaction, the chief financial officer directly owned 175,497 shares of the company’s stock, valued at approximately $17,935,793.40. This represents a 5.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 955,959 shares of company stock worth $88,260,274 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Wayfair Trading Up 2.7%

NYSE:W opened at $112.75 on Friday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $114.92. The firm has a 50 day moving average of $93.23 and a 200-day moving average of $72.08. The stock has a market capitalization of $14.70 billion, a P/E ratio of -44.04 and a beta of 3.03.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on W shares. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of Wayfair in a research note on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on Wayfair from $91.00 to $102.00 and gave the company a “buy” rating in a report on Friday, September 19th. The Goldman Sachs Group increased their target price on Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Wedbush restated a “neutral” rating on shares of Wayfair in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.57.

Wayfair 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.