LPL Financial LLC Grows Position in Wayfair Inc. (NYSE:W)

LPL Financial LLC increased its stake in Wayfair Inc. (NYSE:W - Free Report) by 218.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,486 shares of the company's stock after buying an additional 26,390 shares during the quarter. LPL Financial LLC's holdings in Wayfair were worth $1,706,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp boosted its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after buying an additional 244 shares during the period. GAMMA Investing LLC raised its stake in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after purchasing an additional 281 shares during the period. Jones Financial Companies Lllp lifted its holdings in Wayfair by 577.0% during 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. Arizona State Retirement System boosted its stake in Wayfair by 2.4% in the 4th quarter. Arizona State Retirement System now owns 26,951 shares of the company's stock worth $1,194,000 after purchasing an additional 624 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Wayfair during the 4th quarter valued at about $45,000. Institutional investors own 89.67% of the company's stock.

Insider Buying and Selling

In other news, CFO Kate Gulliver sold 19,296 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction on 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 owns 559,073 shares of the company's stock, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,863 shares of company stock worth $4,847,429. 21.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Canaccord Genuity Group reduced their price objective on Wayfair from $76.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a report on Monday, April 14th. BMO Capital Markets increased their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, February 21st. Jefferies Financial Group raised shares of Wayfair from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $47.00 in a research note on Friday, March 7th. Finally, Citigroup cut Wayfair from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $58.00 to $28.00 in a research note on Friday, April 4th. Sixteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $52.92.

Wayfair Stock Up 5.7 %

Wayfair stock traded up $1.44 during trading hours on Friday, hitting $26.58. The stock had a trading volume of 5,371,340 shares, compared to its average volume of 4,622,471. The stock's 50-day moving average price is $34.55 and its 200-day moving average price is $42.49. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $76.18. The stock has a market capitalization of $3.37 billion, a P/E ratio of -6.61 and a beta of 3.72.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (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, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

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.