Geode Capital Management LLC grew its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,524,854 shares of the company's stock after buying an additional 35,268 shares during the quarter. Geode Capital Management LLC owned 1.22% of Wayfair worth $85,690,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in W. Capital Performance Advisors LLP purchased a new position in Wayfair during the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Wayfair during the 3rd quarter worth about $44,000. Brooklyn Investment Group bought a new position in Wayfair during the 3rd quarter valued at about $50,000. International Assets Investment Management LLC purchased a new stake in Wayfair in the 2nd quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in Wayfair in the third quarter worth about $67,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.
Wayfair Stock Performance
Shares of W traded up $1.97 during trading hours on Friday, hitting $45.72. The stock had a trading volume of 5,245,860 shares, compared to its average volume of 4,419,451. The firm has a 50-day moving average price of $46.12 and a 200 day moving average price of $48.65. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -10.18 and a beta of 3.44.
Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. Wayfair's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.38) earnings per share. As a group, analysts predict that Wayfair Inc. will post -2.91 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently weighed in on W. Robert W. Baird decreased their price objective on shares of Wayfair from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Loop Capital lifted their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Monday. Truist Financial dropped their price objective on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Argus lowered Wayfair from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Finally, StockNews.com raised Wayfair from a "sell" rating to a "hold" rating in a research report on Thursday. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.28.
Check Out Our Latest Stock Report on W
Insider Activity
In other news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. This represents a 10.60 % 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, CFO Kate Gulliver sold 7,330 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares in the company, valued at approximately $6,257,088.35. This represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,896 shares of company stock worth $4,869,409 over the last 90 days. 26.81% of the stock is currently 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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