Prospera Financial Services Inc Makes New Investment in Wayfair Inc. $W

Prospera Financial Services Inc bought a new position in shares of Wayfair Inc. (NYSE:W) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,689 shares of the company’s stock, valued at approximately $1,007,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after purchasing an additional 1,097 shares during the period. IFP Advisors Inc raised its position in Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after purchasing an additional 617 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of Wayfair in the 2nd quarter worth $102,000. Caitong International Asset Management Co. Ltd grew its position in shares of Wayfair by 15,266.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock worth $148,000 after buying an additional 4,580 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Wayfair during the first quarter valued at $215,000. Institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Evercore ISI boosted their price target on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada upped their price target on shares of Wayfair from $51.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Citigroup lifted their price objective on shares of Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Zelman & Associates boosted their price objective on shares of Wayfair from $85.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.39.

Wayfair Stock Up 1.2%

Shares of Wayfair stock opened at $111.90 on Thursday. The company has a market cap of $14.59 billion, a P/E ratio of -43.71 and a beta of 3.03. The firm’s 50 day moving average price is $89.54 and its 200-day moving average price is $66.77. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $114.92.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. As a group, equities research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 30,000 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $105.10, for a total value of $3,153,000.00. Following the completion of the sale, the chief executive officer directly owned 139,137 shares in the company, valued at approximately $14,623,298.70. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 6,347 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total value of $638,127.38. Following the completion of the sale, the chief technology officer directly owned 198,860 shares of the company’s stock, valued at approximately $19,993,384.40. This represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 825,959 shares of company stock worth $70,097,674. 21.91% of the stock is currently owned by company insiders.

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.