Geode Capital Management LLC Increases Stock Position in Wayfair Inc. (NYSE:W)

Geode Capital Management LLC lifted its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,546,932 shares of the company's stock after buying an additional 22,078 shares during the period. Geode Capital Management LLC owned about 1.23% of Wayfair worth $68,584,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after purchasing an additional 327,603 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Wayfair by 13.6% during the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock valued at $273,887,000 after buying an additional 740,641 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Wayfair by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company's stock valued at $44,733,000 after acquiring an additional 35,057 shares in the last quarter. Norges Bank bought a new stake in Wayfair in the fourth quarter valued at $31,472,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Wayfair during the 4th quarter valued at $30,735,000. Institutional investors own 89.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on W shares. Wedbush reaffirmed a "neutral" rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Citigroup downgraded shares of Wayfair from a "buy" rating to a "neutral" rating and reduced their price target for the company from $58.00 to $28.00 in a research report on Friday, April 4th. Bank of America lowered their price objective on Wayfair from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Piper Sandler set a $58.00 price objective on Wayfair and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a research report on Monday, February 24th. Sixteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $52.92.

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Wayfair Trading Up 0.7 %

Shares of NYSE:W traded up $0.19 during midday trading on Monday, reaching $27.14. 4,811,613 shares of the company were exchanged, compared to its average volume of 4,618,306. The stock has a market cap of $3.44 billion, a PE ratio of -6.75 and a beta of 3.72. Wayfair Inc. has a one year low of $20.41 and a one year high of $76.18. The business's fifty day moving average is $36.48 and its two-hundred day moving average is $43.39.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (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 the consensus estimate of $3.07 billion. As a group, sell-side analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Activity

In other news, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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 in the company, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares of the company's stock, valued at approximately $3,547,205.76. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,863 shares of company stock valued at $4,847,429 in the last ninety days. Insiders own 26.81% of the company's stock.

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.