Capital World Investors Raises Stock Position in Wayfair Inc. (NYSE:W)

Capital World Investors lifted its position in Wayfair Inc. (NYSE:W) by 6.2% in the fourth quarter, Holdings Channel reports. The firm owned 13,506,200 shares of the company’s stock after buying an additional 782,757 shares during the period. Capital World Investors owned 0.11% of Wayfair worth $598,596,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of W. J.Safra Asset Management Corp raised its position in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Wayfair in the fourth quarter valued at about $41,000. Finally, Venturi Wealth Management LLC purchased a new stake in Wayfair in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Activity

In related news, insider Jon Blotner sold 19,257 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total transaction of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares in the company, valued at $2,480,797.44. This represents a 19.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,863 shares of company stock worth $4,847,429 in the last ninety days. Company insiders own 21.91% of the company’s stock.

Wayfair Trading Up 5.7 %

Shares of W stock opened at $26.58 on Friday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $76.18. The stock has a market cap of $3.37 billion, a P/E ratio of -6.61 and a beta of 3.72. The stock has a 50 day moving average of $34.55 and a 200 day moving average of $42.49.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on W. Canaccord Genuity Group cut their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Monday, April 14th. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Citigroup downgraded Wayfair from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $28.00 in a report on Friday, April 4th. Finally, BMO Capital Markets upped their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st. Sixteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair presently has an average rating of “Hold” and a consensus price target of $52.92.

Wayfair 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.