Swiss National Bank Has $15.33 Million Stock Holdings in Wayfair Inc. $W

Swiss National Bank lifted its holdings in Wayfair Inc. (NYSE:W) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,800 shares of the company’s stock after buying an additional 7,200 shares during the quarter. Swiss National Bank’s holdings in Wayfair were worth $15,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Webster Bank N. A. bought a new stake in Wayfair during the 4th quarter worth about $30,000. V Square Quantitative Management LLC bought a new position in shares of Wayfair in the fourth quarter worth about $33,000. Piper Sandler & CO. bought a new position in shares of Wayfair in the fourth quarter worth about $34,000. Havemeyer Place LP bought a new position in shares of Wayfair in the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares of the company’s stock, valued at approximately $11,299,053.76. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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. Insiders own 18.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark started coverage on shares of Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating on the stock. Needham & Company LLC dropped their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research downgraded Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company decreased their price objective on Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Wayfair in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $100.36.

Wayfair Price Performance

Shares of NYSE:W opened at $84.01 on Friday. The company’s 50-day moving average price is $81.25 and its two-hundred day moving average price is $83.09. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98. The stock has a market capitalization of $11.09 billion, a PE ratio of -35.90, a price-to-earnings-growth ratio of 4.58 and a beta of 2.96.

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