Kennondale Capital Management LLC acquired a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 25,737 shares of the company's stock, valued at approximately $1,141,000. Wayfair comprises about 0.9% of Kennondale Capital Management LLC's investment portfolio, making the stock its 28th biggest position.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp raised its holdings in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after acquiring an additional 502 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after acquiring an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wayfair in the third quarter worth $44,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Wayfair in the fourth quarter worth $45,000. 89.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on W. Stifel Nicolaus cut their price target on Wayfair from $47.00 to $46.00 and set a "hold" rating for the company in a report on Friday, February 21st. BMO Capital Markets boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. Raymond James set a $60.00 price objective on Wayfair and gave the company a "strong-buy" rating in a research report on Friday, February 21st. Finally, 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. Fourteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.81.
View Our Latest Report on W
Insider Buying and Selling
In other Wayfair news, insider Steven Conine sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now owns 559,073 shares in the company, valued at $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 is available through this link. Also, CTO Fiona Tan sold 8,249 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,189 shares of company stock worth $4,810,693. 26.81% of the stock is currently owned by corporate insiders.
Wayfair Stock Up 6.7 %
Shares of NYSE W traded up $2.12 on Friday, hitting $33.67. The company had a trading volume of 5,519,049 shares, compared to its average volume of 4,215,645. Wayfair Inc. has a 12-month low of $29.68 and a 12-month high of $76.18. The business has a 50 day moving average of $41.99 and a two-hundred day moving average of $45.47. The firm has a market capitalization of $4.27 billion, a P/E ratio of -8.37 and a beta of 3.44.
Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.
Wayfair Company Profile
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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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