Patriot Financial Group Insurance Agency LLC Has $305,000 Holdings in Wayfair Inc. $W

Patriot Financial Group Insurance Agency LLC decreased its holdings in Wayfair Inc. (NYSE:W) by 61.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,413 shares of the company’s stock after selling 5,419 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Wayfair were worth $305,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Algert Global LLC bought a new stake in shares of Wayfair in the 1st quarter valued at about $869,000. Hsbc Holdings PLC boosted its holdings in Wayfair by 235.2% in the first quarter. Hsbc Holdings PLC now owns 25,095 shares of the company’s stock valued at $804,000 after acquiring an additional 17,608 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wayfair by 57.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 45,562 shares of the company’s stock valued at $1,482,000 after acquiring an additional 16,535 shares during the last quarter. Credit Agricole S A increased its position in Wayfair by 255.9% during the 1st quarter. Credit Agricole S A now owns 18,534 shares of the company’s stock valued at $594,000 after purchasing an additional 13,327 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Wayfair by 18,338.6% during the 1st quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock worth $9,881,000 after purchasing an additional 306,805 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

W has been the subject of several recent analyst reports. Argus increased their price objective on shares of Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Mizuho increased their price target on Wayfair from $88.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Evercore ISI boosted their price objective on Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. The Goldman Sachs Group raised their target price on Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus price target of $105.29.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 6,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction 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. The trade was a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00. Following the completion of the sale, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at approximately $77,222,899.67. This trade represents a 17.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 955,959 shares of company stock valued at $88,260,274. Insiders own 21.91% of the company’s stock.

Wayfair Stock Up 3.2%

NYSE W opened at $101.61 on Friday. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $114.92. The business has a 50 day moving average price of $97.87 and a 200-day moving average price of $79.00. The company has a market cap of $13.24 billion, a price-to-earnings ratio of -39.69 and a beta of 3.25.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. On average, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wayfair Profile

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.