Private Wealth Partners LLC acquired a new stake in Wayfair Inc (NYSE:W) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,500 shares of the company’s stock, valued at approximately $219,000.
Several other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in Wayfair by 0.6% in the 1st quarter. Wells Fargo & Company MN now owns 375,981 shares of the company’s stock valued at $55,815,000 after buying an additional 2,221 shares during the last quarter. Investors Research Corp acquired a new position in Wayfair in the 1st quarter valued at $52,000. Shell Asset Management Co. grew its stake in Wayfair by 701.8% in the 1st quarter. Shell Asset Management Co. now owns 3,977 shares of the company’s stock valued at $590,000 after buying an additional 3,481 shares during the last quarter. Boston Financial Mangement LLC acquired a new position in Wayfair in the 1st quarter valued at $241,000. Finally, Tocqueville Asset Management L.P. grew its stake in Wayfair by 13.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 2,600 shares of the company’s stock valued at $380,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 77.21% of the company’s stock.
In other news, CFO Michael D. Fleisher sold 6,290 shares of Wayfair stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $148.75, for a total transaction of $935,637.50. Following the completion of the sale, the chief financial officer now owns 140,448 shares in the company, valued at approximately $20,891,640. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edmond Macri sold 300 shares of Wayfair stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.33, for a total transaction of $37,299.00. Following the sale, the insider now owns 950 shares of the company’s stock, valued at approximately $118,113.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,744 shares of company stock valued at $5,340,433. Insiders own 33.86% of the company’s stock.
W stock traded up $1.22 during trading on Thursday, hitting $116.31. 58,502 shares of the stock traded hands, compared to its average volume of 2,514,911. Wayfair Inc has a one year low of $76.60 and a one year high of $173.72. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of -20.71 and a beta of 1.88. The company has a 50 day simple moving average of $133.82 and a 200 day simple moving average of $145.02.
Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($1.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.97) by $0.62. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business earned ($0.77) earnings per share. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, research analysts forecast that Wayfair Inc will post -9.36 EPS for the current year.
A number of research analysts recently issued reports on the stock. Credit Suisse Group lowered their target price on shares of Wayfair from $195.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Wedbush lowered their target price on shares of Wayfair from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Wayfair in a research note on Friday, May 17th. They issued a “buy” rating and a $192.00 target price on the stock. Zacks Investment Research upgraded shares of Wayfair from a “sell” rating to a “hold” rating and set a $131.00 price target on the stock in a research report on Friday, August 16th. Finally, Deutsche Bank decreased their price target on shares of Wayfair from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $155.74.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
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