World Asset Management Inc acquired a new position in shares of Wayfair Inc (NYSE:W) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,186 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently modified their holdings of the stock. Modus Advisors LLC acquired a new position in Wayfair during the 2nd quarter worth approximately $27,000. Parallel Advisors LLC raised its stake in Wayfair by 521.6% during the 1st quarter. Parallel Advisors LLC now owns 547 shares of the company’s stock worth $29,000 after buying an additional 459 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Wayfair by 133.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $34,000 after buying an additional 363 shares during the period. Schroder Investment Management Group acquired a new position in Wayfair during the 1st quarter worth approximately $46,000. Finally, Credit Agricole S A acquired a new position in Wayfair during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

A number of analysts have commented on the company. Piper Sandler boosted their price objective on Wayfair from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Loop Capital raised Wayfair from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $35.00 to $165.00 in a report on Tuesday, May 5th. DA Davidson boosted their price objective on Wayfair from $45.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Wayfair in a report on Monday, April 6th. Finally, Deutsche Bank boosted their price objective on Wayfair from $67.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $161.00.

In other Wayfair news, insider Steve Oblak sold 12,628 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $174.32, for a total transaction of $2,201,312.96. Following the sale, the insider now owns 147,638 shares in the company, valued at $25,736,256.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edmond Macri sold 300 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.20, for a total value of $46,860.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,122 shares of company stock worth $17,869,881. 30.86% of the stock is owned by company insiders.

Wayfair stock opened at $266.09 on Friday. Wayfair Inc has a 12 month low of $21.70 and a 12 month high of $267.43. The business’s 50 day simple moving average is $213.24 and its 200 day simple moving average is $130.28. The company has a market cap of $25.18 billion, a price-to-earnings ratio of -23.14 and a beta of 3.37.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($2.30) EPS for the quarter, beating the consensus estimate of ($2.60) by $0.30. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the company posted ($1.62) EPS. Wayfair’s revenue for the quarter was up 19.8% on a year-over-year basis. Equities analysts anticipate that Wayfair Inc will post -6.14 earnings per share for the current year.

Wayfair Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

Further Reading: Secondary Public Offerings

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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