8,204 Shares in Wayfair Inc. (NYSE:W) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in Wayfair Inc. (NYSE:W - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,204 shares of the company's stock, valued at approximately $364,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tabor Asset Management LP lifted its position in shares of Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company's stock valued at $8,813,000 after buying an additional 15,932 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company's stock valued at $56,180,000 after buying an additional 500,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Wayfair during the fourth quarter valued at about $6,799,000. Wellington Management Group LLP increased its holdings in shares of Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company's stock valued at $61,676,000 after acquiring an additional 201,157 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Wayfair during the third quarter valued at about $1,070,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,974 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the sale, the chief financial officer now directly owns 129,964 shares of the company's stock, valued at $5,841,881.80. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the sale, the insider now directly owns 602,573 shares of the company's stock, valued at $27,567,714.75. This trade represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,189 shares of company stock worth $6,183,193. Corporate insiders own 26.81% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Canaccord Genuity Group cut their price objective on shares of Wayfair from $76.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, February 21st. BMO Capital Markets upped their price objective 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. Finally, Wedbush reiterated a "neutral" rating and issued a $46.00 price target (up previously from $44.00) 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.81.

Wayfair Stock Performance

Shares of NYSE:W traded down $0.17 during midday trading on Thursday, reaching $31.52. 5,005,693 shares of the company's stock traded hands, compared to its average volume of 4,207,504. Wayfair Inc. has a 1 year low of $29.68 and a 1 year high of $76.18. The company has a market cap of $4.00 billion, a P/E ratio of -7.84 and a beta of 3.44. The company has a fifty day simple moving average of $42.47 and a two-hundred day simple moving average of $45.63.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.07 billion. As a group, research analysts forecast 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.