Swiss National Bank Increases Position in Wayfair Inc. (NYSE:W)

Swiss National Bank increased its stake in Wayfair Inc. (NYSE:W) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,700 shares of the company’s stock after purchasing an additional 4,200 shares during the quarter. Swiss National Bank owned 0.15% of Wayfair worth $8,097,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in W. J.Safra Asset Management Corp increased its holdings in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. GAMMA Investing LLC increased its holdings in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair during the 3rd quarter valued at about $44,000. Finally, Venturi Wealth Management LLC purchased a new position in Wayfair during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on W. Stifel Nicolaus dropped their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a report on Friday, February 21st. Bank of America dropped their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their target price on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Raymond James set a $60.00 price target on shares of Wayfair and gave the stock a “strong-buy” rating in a research note on Friday, February 21st. Finally, BMO Capital Markets raised their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.81.

Wayfair Stock Performance

Shares of NYSE:W opened at $33.67 on Friday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -8.37 and a beta of 3.44. Wayfair Inc. has a 1-year low of $29.68 and a 1-year high of $76.18. The company’s fifty day moving average is $41.99 and its two-hundred day moving average is $45.47.

Wayfair (NYSE:W) last issued its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. Sell-side analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.91, for a total value of $370,462.59. Following the completion of the transaction, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. This represents a 7.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,189 shares of company stock worth $4,810,693. Insiders own 26.81% of the company’s stock.

Wayfair Company 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.