Norges Bank bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 710,098 shares of the company's stock, valued at approximately $31,472,000. Norges Bank owned approximately 0.57% of Wayfair at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in W. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair during the third quarter valued at approximately $44,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Wayfair during the 3rd quarter valued at $384,000. Quantinno Capital Management LP boosted its stake in shares of Wayfair by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 25,992 shares of the company's stock worth $1,460,000 after acquiring an additional 2,047 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Wayfair by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company's stock worth $61,676,000 after acquiring an additional 201,157 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Wayfair during the third quarter worth $6,964,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on W. Raymond James set a $60.00 target price on Wayfair and gave the company a "strong-buy" rating in a report on Friday, February 21st. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an "overweight" rating in a research report on Friday, February 21st. BMO Capital Markets upped their target price on Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, February 21st. Wedbush restated a "neutral" rating and set a $46.00 price target (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. Finally, Canaccord Genuity Group dropped their price objective on shares of Wayfair from $76.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $54.84.
Read Our Latest Stock Analysis on W
Wayfair Stock Up 4.4 %
Shares of W stock traded up $1.14 during mid-day trading on Monday, reaching $27.19. The stock had a trading volume of 10,536,019 shares, compared to its average volume of 4,499,712. Wayfair Inc. has a one year low of $20.41 and a one year high of $76.18. The firm has a market cap of $3.45 billion, a PE ratio of -6.76 and a beta of 3.72. The firm's 50 day simple moving average is $39.50 and its 200 day simple moving average is $44.63.
Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.07 billion. Sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.
Insider Activity at Wayfair
In related news, CTO Fiona Tan sold 23,835 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the sale, the chief technology officer now directly owns 111,128 shares in the company, valued at $3,547,205.76. This represents a 17.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the transaction, the insider now owns 589,073 shares in the company, valued at approximately $28,540,586.85. This trade represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,532 shares of company stock valued at $5,090,232 over the last quarter. 26.81% of the stock is owned by company insiders.
Wayfair 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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