Connor Clark & Lunn Investment Management Ltd. acquired a new position in Wayfair Inc. (NYSE:W - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 60,707 shares of the company's stock, valued at approximately $2,691,000.
Other hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its stake in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after purchasing an additional 502 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after purchasing an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wayfair in the 3rd quarter worth $44,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Wayfair in the 3rd quarter worth $50,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an "overweight" rating in a research note on Friday, February 21st. Raymond James set a $60.00 price objective on Wayfair and gave the stock a "strong-buy" rating in a research note on Friday, February 21st. Wedbush restated a "neutral" rating and issued a $46.00 price objective (up from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Bank of America reduced their price objective on Wayfair from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, StockNews.com raised shares of Wayfair from a "sell" rating to a "hold" rating in a report on Thursday, December 19th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $56.81.
Get Our Latest Stock Report on W
Insider Activity at Wayfair
In related news, 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 value of $1,389,900.00. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Fiona Tan sold 8,249 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,189 shares of company stock valued at $4,810,693. Insiders own 26.81% of the company's stock.
Wayfair Trading Up 6.7 %
Shares of NYSE:W traded up $2.12 during trading on Friday, reaching $33.67. The company's stock had a trading volume of 5,516,553 shares, compared to its average volume of 3,976,491. Wayfair Inc. has a 12 month low of $29.68 and a 12 month high of $76.18. The firm's 50 day simple moving average is $42.20 and its two-hundred day simple moving average is $45.53. The stock has a market capitalization of $4.27 billion, a PE ratio of -8.37 and a beta of 3.44.
Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.07 billion. Research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.
Wayfair Profile
(
Free Report)
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.
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