Wayfair Inc. $W Shares Newly Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC purchased a new position in shares of Wayfair Inc. (NYSE:W) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 6,914 shares of the company’s stock, valued at approximately $709,000.

A number of other hedge funds have also recently added to or reduced their stakes in W. Fortitude Family Office LLC boosted its holdings in Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 272 shares in the last quarter. IFP Advisors Inc increased its position in Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after purchasing an additional 358 shares during the period. Reyes Financial Architecture Inc. acquired a new position in Wayfair during the 3rd quarter worth approximately $82,000. ABS Direct Equity Fund LLC purchased a new position in shares of Wayfair during the 1st quarter worth approximately $83,000. Finally, Polaris Financial Partners purchased a new position in shares of Wayfair during the 3rd quarter worth approximately $113,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on W shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Wayfair in a report on Tuesday, September 1st. Wedbush upped their price objective on Wayfair from $85.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wells Fargo & Company upped their price objective on Wayfair from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Rosenblatt Securities initiated coverage on Wayfair in a research report on Thursday, August 20th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $108.00 target price on shares of Wayfair in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $121.04.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 117,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the sale, the chief executive officer owned 105,137 shares in the company, valued at $11,696,491.25. This represents a 52.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 117,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the transaction, the director directly owned 105,073 shares of the company’s stock, valued at $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 676,570 shares of company stock valued at $72,176,934 in the last 90 days. Insiders own 18.44% of the company’s stock.

Wayfair Trading Down 3.5%

W stock opened at $115.93 on Friday. The company has a market cap of $15.30 billion, a P/E ratio of -47.13, a P/E/G ratio of 4.17 and a beta of 3.02. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $120.90. The company’s 50-day moving average price is $104.78 and its 200 day moving average price is $89.19.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Wayfair Inc. will post 0.93 earnings per share for the current year.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.