Assenagon Asset Management S.A. Makes New Investment in Wayfair Inc. (NYSE:W)

Assenagon Asset Management S.A. bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 153,411 shares of the company's stock, valued at approximately $6,799,000. Assenagon Asset Management S.A. owned 0.12% of Wayfair as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new stake in Wayfair during the 2nd quarter valued at approximately $599,000. Mercer Global Advisors Inc. ADV boosted its position in shares of Wayfair by 31.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,090 shares of the company's stock valued at $286,000 after acquiring an additional 1,204 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Wayfair by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company's stock worth $381,000 after acquiring an additional 788 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Wayfair by 43.2% during the second quarter. Canada Pension Plan Investment Board now owns 182,900 shares of the company's stock worth $9,644,000 after acquiring an additional 55,200 shares during the period. Finally, Sei Investments Co. raised its stake in Wayfair by 32.8% during the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company's stock valued at $7,035,000 after purchasing an additional 32,968 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Price Performance

W traded up $1.71 during trading on Monday, reaching $45.02. The company had a trading volume of 5,919,838 shares, compared to its average volume of 2,750,608. The company has a market cap of $5.64 billion, a P/E ratio of -10.03 and a beta of 3.43. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The business's fifty day moving average price is $45.67 and its 200 day moving average price is $47.30.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.38) EPS. As a group, sell-side analysts predict that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company's stock, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 5,669 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the sale, the insider now directly owns 57,899 shares in the company, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,150 shares of company stock worth $6,250,114. 23.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on W shares. Wedbush cut Wayfair from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $45.00 to $44.00 in a research report on Monday, January 6th. BMO Capital Markets decreased their target price on shares of Wayfair from $58.00 to $50.00 and set a "market perform" rating on the stock in a research report on Monday, November 4th. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Wayfair in a research note on Friday, November 1st. Guggenheim reissued a "buy" rating and issued a $70.00 target price on shares of Wayfair in a report on Thursday, September 26th. Finally, Robert W. Baird dropped their price objective on Wayfair from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of "Moderate Buy" and an average price target of $60.24.

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.