MML Investors Services LLC bought a new position in shares of Wayfair Inc (NYSE:W) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,710 shares of the company’s stock, valued at approximately $548,000.
Several other hedge funds also recently made changes to their positions in the company. United Services Automobile Association lifted its position in shares of Wayfair by 7.8% during the second quarter. United Services Automobile Association now owns 6,685 shares of the company’s stock worth $794,000 after purchasing an additional 483 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Wayfair by 8.5% during the second quarter. Public Employees Retirement Association of Colorado now owns 7,976 shares of the company’s stock worth $947,000 after purchasing an additional 625 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Wayfair by 21.7% during the second quarter. Itau Unibanco Holding S.A. now owns 4,610 shares of the company’s stock worth $546,000 after purchasing an additional 822 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Wayfair by 14.4% during the third quarter. Bank of Montreal Can now owns 7,210 shares of the company’s stock worth $1,065,000 after purchasing an additional 905 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Wayfair by 43.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,318 shares of the company’s stock worth $394,000 after purchasing an additional 1,002 shares in the last quarter. Institutional investors own 70.94% of the company’s stock.
Several equities analysts recently weighed in on the stock. Loop Capital set a $155.00 price objective on shares of Wayfair and gave the company a “buy” rating in a report on Monday, September 10th. Canaccord Genuity restated a “buy” rating and issued a $165.00 price objective (up from $140.00) on shares of Wayfair in a report on Friday, September 28th. MKM Partners increased their price objective on shares of Wayfair from $130.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Robert W. Baird cut their price objective on shares of Wayfair from $118.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Wayfair has an average rating of “Hold” and an average price target of $126.06.
Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, November 1st. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned ($0.65) earnings per share. The firm’s quarterly revenue was up 42.4% compared to the same quarter last year. On average, research analysts expect that Wayfair Inc will post -5.72 EPS for the current fiscal year.
In other Wayfair news, insider Steven Conine sold 26,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $137.11, for a total value of $3,564,860.00. Following the completion of the sale, the insider now owns 48,538 shares in the company, valued at $6,655,045.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO James Savarese sold 99,570 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $150.18, for a total transaction of $14,953,422.60. Following the completion of the sale, the chief operating officer now owns 458,056 shares of the company’s stock, valued at approximately $68,790,850.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 379,869 shares of company stock valued at $50,791,637. 37.75% of the stock is owned by insiders.
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Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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