Pier 88 Investment Partners LLC reduced its position in Wayfair Inc. (NYSE:W) by 56.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,061 shares of the company’s stock after selling 7,975 shares during the period. Pier 88 Investment Partners LLC’s holdings in Wayfair were worth $466,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. First Personal Financial Services raised its stake in Wayfair by 15.1% in the first quarter. First Personal Financial Services now owns 2,475 shares of the company’s stock worth $100,000 after buying an additional 325 shares during the last quarter. UBS Group AG raised its stake in Wayfair by 55.5% in the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock worth $109,000 after buying an additional 960 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Wayfair during the first quarter worth approximately $110,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Wayfair by 9.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock worth $114,000 after buying an additional 247 shares during the last quarter. Finally, FNY Partners Fund LP raised its stake in Wayfair by 2,900.0% in the first quarter. FNY Partners Fund LP now owns 3,000 shares of the company’s stock worth $121,000 after buying an additional 2,900 shares during the last quarter.
Wayfair Inc. (NYSE W) traded down 2.20% on Monday, hitting $75.05. The stock had a trading volume of 799,820 shares. The firm has a 50-day moving average of $68.82 and a 200 day moving average of $48.02. The company’s market capitalization is $6.50 billion. Wayfair Inc. has a 52 week low of $27.60 and a 52 week high of $79.33.
Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.32. The company had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $934.84 million. Wayfair had a negative return on equity of 215.36% and a negative net margin of 5.84%. Wayfair’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.36) earnings per share. On average, analysts predict that Wayfair Inc. will post ($1.56) earnings per share for the current year.
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W has been the subject of a number of analyst reports. Zacks Investment Research raised Wayfair from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Thursday, April 27th. Piper Jaffray Companies reissued an “overweight” rating and issued a $51.00 price target on shares of Wayfair in a research report on Tuesday, March 21st. Maxim Group increased their price target on Wayfair from $53.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. CIBC raised Wayfair from a “market perform” rating to an “outperform” rating in a research report on Friday, June 2nd. Finally, Bank of America Corporation raised Wayfair from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $75.00 in a research report on Tuesday, May 9th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.03.
In other Wayfair news, SVP Steve Oblak sold 948 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $76.68, for a total value of $72,692.64. Following the completion of the sale, the senior vice president now owns 121,368 shares in the company, valued at $9,306,498.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 50,850 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $73.88, for a total value of $3,756,798.00. Following the completion of the sale, the chief executive officer now owns 81,819 shares of the company’s stock, valued at approximately $6,044,787.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 543,566 shares of company stock valued at $35,745,764. 63.94% of the stock is owned by company insiders.
Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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