Swiss National Bank Increases Position in Wayfair Inc. $W

Swiss National Bank grew its position in shares of Wayfair Inc. (NYSE:W) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,800 shares of the company’s stock after purchasing an additional 7,200 shares during the period. Swiss National Bank owned approximately 0.16% of Wayfair worth $15,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Covenant Asset Management LLC acquired a new position in Wayfair during the fourth quarter worth $4,403,000. North Dakota State Investment Board acquired a new stake in Wayfair in the fourth quarter valued at $3,636,000. Vanguard Group Inc. boosted its position in shares of Wayfair by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares in the last quarter. M&T Bank Corp boosted its position in shares of Wayfair by 3,713.2% during the 4th quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock worth $16,920,000 after purchasing an additional 164,086 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Wayfair during the 4th quarter worth $48,004,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. UBS Group decreased their price objective on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Robert W. Baird set a $76.00 target price on shares of Wayfair in a research report on Monday, May 4th. Royal Bank Of Canada dropped their target price on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating for the company in a report on Thursday, April 30th. Finally, TD Cowen reduced their price target on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.36.

Wayfair Trading Up 1.6%

W stock opened at $84.01 on Friday. The stock’s 50 day simple moving average is $81.25 and its 200 day simple moving average is $83.09. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98. The firm has a market cap of $11.09 billion, a P/E ratio of -35.90, a P/E/G ratio of 4.58 and a beta of 2.96.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, research analysts forecast that Wayfair Inc. will post 0.6 EPS for the current fiscal year.

About Wayfair

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.