DAVENPORT & Co LLC lessened its stake in shares of Wayfair Inc (NYSE:W) by 67.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,718 shares of the company’s stock after selling 9,832 shares during the period. DAVENPORT & Co LLC’s holdings in Wayfair were worth $932,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in W. Modus Advisors LLC bought a new stake in Wayfair during the 2nd quarter valued at $27,000. Crewe Advisors LLC bought a new stake in Wayfair during the 2nd quarter valued at $76,000. Parallel Advisors LLC increased its stake in Wayfair by 521.6% during the 1st quarter. Parallel Advisors LLC now owns 547 shares of the company’s stock valued at $29,000 after purchasing an additional 459 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Wayfair by 133.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $34,000 after purchasing an additional 363 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in Wayfair during the 1st quarter valued at $46,000. Institutional investors own 88.20% of the company’s stock.
Shares of Wayfair stock opened at $266.09 on Friday. Wayfair Inc has a 12-month low of $21.70 and a 12-month high of $267.43. The company has a market cap of $25.18 billion, a price-to-earnings ratio of -23.14 and a beta of 3.37. The company’s 50-day moving average price is $213.24 and its 200-day moving average price is $130.28.
Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($2.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.60) by $0.30. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company posted ($1.62) earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, equities research analysts expect that Wayfair Inc will post -6.14 EPS for the current year.
In related news, insider Edmond Macri sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $192.24, for a total value of $57,672.00. Following the sale, the insider now directly owns 5,647 shares of the company’s stock, valued at $1,085,579.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Netzer sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief operating officer now directly owns 13,772 shares in the company, valued at $3,443,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,122 shares of company stock worth $17,869,881. Insiders own 30.86% of the company’s stock.
W has been the subject of a number of recent research reports. Deutsche Bank boosted their price target on shares of Wayfair from $67.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Canaccord Genuity upped their target price on shares of Wayfair from $100.00 to $200.00 and gave the stock a “positive” rating in a research note on Tuesday, May 5th. Loop Capital upgraded shares of Wayfair from a “sell” rating to a “hold” rating and upped their target price for the stock from $35.00 to $165.00 in a research note on Tuesday, May 5th. Citigroup lowered shares of Wayfair from a “neutral” rating to a “sell” rating and upped their target price for the stock from $75.00 to $130.00 in a research note on Friday, May 15th. Finally, Jefferies Financial Group upped their target price on shares of Wayfair from $112.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $161.00.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
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