Wayfair Inc. $W Stock Holdings Increased by Entropy Technologies LP

Entropy Technologies LP boosted its holdings in shares of Wayfair Inc. (NYSE:W) by 242.7% in the 1st quarter, Holdings Channel reports. The firm owned 41,874 shares of the company’s stock after buying an additional 29,656 shares during the period. Entropy Technologies LP’s holdings in Wayfair were worth $3,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Webster Bank N. A. bought a new position in shares of Wayfair in the fourth quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in shares of Wayfair during the 4th quarter worth $33,000. Piper Sandler & CO. bought a new stake in shares of Wayfair during the 4th quarter worth $34,000. Havemeyer Place LP acquired a new position in shares of Wayfair in the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after acquiring an additional 653 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 company insiders.

Wall Street Analysts Forecast Growth

W has been the subject of several analyst reports. Zacks Research downgraded Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada dropped their price target on Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 30th. Morgan Stanley set a $110.00 price objective on Wayfair in a report on Friday, May 1st. Benchmark started coverage on shares of Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Finally, Jefferies Financial Group decreased their target price on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

Wayfair Stock Up 1.6%

W opened at $84.01 on Friday. The firm has a market capitalization of $11.09 billion, a P/E ratio of -35.90, a PEG ratio of 4.66 and a beta of 2.96. The stock has a fifty day moving average of $81.25 and a 200-day moving average of $83.09. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.10 earnings per share. On average, analysts expect that Wayfair Inc. will post 0.6 earnings per share 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.