OMERS ADMINISTRATION Corp Invests $1.69 Million in Wayfair Inc. $W

OMERS ADMINISTRATION Corp acquired a new position in Wayfair Inc. (NYSE:W) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 22,500 shares of the company’s stock, valued at approximately $1,692,000.

Several other large investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Wayfair by 29.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock worth $2,147,000 after purchasing an additional 15,084 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Wayfair by 30.4% during the second quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock valued at $375,000 after buying an additional 1,710 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after buying an additional 270 shares during the period. M&T Bank Corp acquired a new stake in Wayfair during the second quarter worth about $262,000. Finally, EverSource Wealth Advisors LLC grew its position in Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Down 5.7%

NYSE:W opened at $89.13 on Thursday. The firm has a market capitalization of $11.77 billion, a PE ratio of -38.09, a price-to-earnings-growth ratio of 5.24 and a beta of 2.96. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98. The firm has a 50-day moving average price of $83.19 and a 200 day moving average price of $82.54.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that Wayfair Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 18.44% of the company’s stock.

Analyst Ratings Changes

W has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday. Canaccord Genuity Group decreased their price objective on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Jefferies Financial Group lowered their price objective on Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley set a $110.00 target price on Wayfair in a research note on Friday, May 1st. Finally, Citigroup reduced their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.64.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.