KLP Kapitalforvaltning AS Takes Position in Wayfair Inc. (NYSE:W)

KLP Kapitalforvaltning AS purchased a new stake in Wayfair Inc. (NYSE:W - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,200 shares of the company's stock, valued at approximately $851,000.

Several other institutional investors have also recently made changes to their positions in W. J.Safra Asset Management Corp raised 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 during the period. Jones Financial Companies Lllp raised its stake in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after buying an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wayfair during the 3rd quarter worth approximately $44,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Wayfair during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Price Performance

NYSE W traded up $1.76 during trading on Wednesday, hitting $33.70. 6,463,138 shares of the company's stock traded hands, compared to its average volume of 4,328,821. The firm has a market cap of $4.28 billion, a P/E ratio of -8.38 and a beta of 3.44. Wayfair Inc. has a 12-month low of $27.91 and a 12-month high of $76.18. The stock has a fifty day moving average of $40.69 and a two-hundred day moving average of $45.09.

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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 during the quarter, compared to the consensus estimate of $3.07 billion. As a group, analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on W shares. Stifel Nicolaus lowered their price target on shares of Wayfair from $47.00 to $46.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their price target on shares of Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. Truist Financial decreased their target price on Wayfair from $55.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group raised shares of Wayfair from a "hold" rating to a "buy" rating and increased their target price for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.81.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 5,669 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 57,899 shares in the company, valued at $2,479,814.17. The trade was a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 559,073 shares in the company, valued at approximately $25,901,852.09. The trade was a 5.09 % 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. Corporate insiders own 26.81% of the company's stock.

Wayfair 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.