Northwest & Ethical Investments L.P. Purchases New Stake in Wayfair Inc. (NYSE:W)

Northwest & Ethical Investments L.P. acquired a new position in shares of Wayfair Inc. (NYSE:W) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,200 shares of the company’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in W. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair during the 3rd quarter worth about $29,000. Brooklyn Investment Group acquired a new position in Wayfair in the 3rd quarter valued at about $50,000. International Assets Investment Management LLC bought a new position in Wayfair in the 2nd quarter valued at about $58,000. Comerica Bank lifted its position in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Wayfair during the second quarter worth approximately $109,000. 89.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 4,600 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,868 shares of company stock valued at $3,272,548 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Wayfair Price Performance

W stock opened at $46.24 on Monday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -10.30 and a beta of 3.46. The company has a 50 day simple moving average of $47.35 and a 200 day simple moving average of $49.70. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the company posted ($1.38) earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Wayfair Inc. will post -2.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on W shares. Deutsche Bank Aktiengesellschaft lowered their target price on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Truist Financial lowered their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Robert W. Baird reduced their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wedbush lowered their price target on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Loop Capital boosted their price objective on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Company Profile

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.