Independent Advisor Alliance purchased a new position in shares of Wayfair Inc. (NYSE:W – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,049 shares of the company’s stock, valued at approximately $1,238,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in shares of Wayfair in the first quarter valued at about $13,642,000. Charles Schwab Investment Management Inc. grew its position in shares of Wayfair by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 302,353 shares of the company’s stock valued at $10,383,000 after purchasing an additional 19,574 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Wayfair by 29.2% in the first quarter. CIBC Private Wealth Group LLC now owns 83,129 shares of the company’s stock valued at $10,977,000 after purchasing an additional 18,794 shares during the period. Toronto Dominion Bank grew its position in shares of Wayfair by 158,710.0% in the first quarter. Toronto Dominion Bank now owns 31,762 shares of the company’s stock valued at $1,090,000 after purchasing an additional 31,742 shares during the period. Finally, ExodusPoint Capital Management LP grew its position in shares of Wayfair by 8.8% in the first quarter. ExodusPoint Capital Management LP now owns 38,860 shares of the company’s stock valued at $1,334,000 after purchasing an additional 3,130 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Wayfair
In related news, CFO Kate Gulliver sold 17,720 shares of Wayfair stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $64.12, for a total value of $1,136,206.40. Following the completion of the transaction, the chief financial officer now owns 47,786 shares in the company, valued at $3,064,038.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Wayfair news, CTO Fiona Tan sold 24,069 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $64.13, for a total transaction of $1,543,544.97. Following the completion of the transaction, the chief technology officer now owns 77,238 shares in the company, valued at approximately $4,953,272.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kate Gulliver sold 17,720 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $64.12, for a total transaction of $1,136,206.40. Following the transaction, the chief financial officer now owns 47,786 shares of the company’s stock, valued at approximately $3,064,038.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,825 shares of company stock worth $6,565,569. Corporate insiders own 26.81% of the company’s stock.
Wayfair Stock Performance
Shares of W stock opened at $72.16 on Monday. The company has a 50 day moving average price of $70.13 and a 200 day moving average price of $50.24. Wayfair Inc. has a fifty-two week low of $28.11 and a fifty-two week high of $90.71.
Wayfair (NYSE:W – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.33) by $1.06. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.10 billion. On average, equities analysts predict that Wayfair Inc. will post -7.33 earnings per share for the current year.
Wall Street Analyst Weigh In
W has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Wayfair in a research note on Friday, August 11th. The Goldman Sachs Group raised their price target on shares of Wayfair from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Wayfair in a research note on Monday, August 14th. Royal Bank of Canada raised their price target on shares of Wayfair from $39.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Finally, Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Wayfair in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.56.
Wayfair Company Profile
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.