Flynn Zito Capital Management LLC Invests $249,000 in Wayfair Inc. (NYSE:W)

Flynn Zito Capital Management LLC bought a new position in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, HoldingsChannel reports. The fund bought 4,043 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its holdings in shares of Wayfair by 243.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,714 shares of the company’s stock worth $476,000 after purchasing an additional 5,470 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd raised its position in shares of Wayfair by 5.2% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 207,533 shares of the company’s stock valued at $12,805,000 after buying an additional 10,266 shares during the period. Ingalls & Snyder LLC raised its position in shares of Wayfair by 0.6% during the 4th quarter. Ingalls & Snyder LLC now owns 96,164 shares of the company’s stock valued at $5,933,000 after buying an additional 535 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Wayfair by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after buying an additional 94,540 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Wayfair by 8,977.8% during the 4th quarter. International Assets Investment Management LLC now owns 67,993 shares of the company’s stock valued at $4,195,000 after buying an additional 67,244 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 1,700 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at approximately $13,912,072.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Kate Gulliver sold 3,696 shares of Wayfair stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.09, for a total value of $233,180.64. Following the completion of the transaction, the chief financial officer now directly owns 89,555 shares of the company’s stock, valued at approximately $5,650,024.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The disclosure for this sale can be found here. Insiders sold a total of 89,808 shares of company stock valued at $5,445,222 in the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Wayfair Price Performance

Wayfair stock traded down $0.01 during midday trading on Thursday, hitting $54.74. 3,118,223 shares of the stock were exchanged, compared to its average volume of 4,280,027. Wayfair Inc. has a 1 year low of $29.51 and a 1 year high of $90.71. The firm has a market cap of $6.59 billion, a P/E ratio of -8.40 and a beta of 3.29. The company has a 50 day moving average price of $59.35 and a two-hundred day moving average price of $55.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. As a group, analysts predict that Wayfair Inc. will post -3.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on W. Loop Capital lifted their price target on shares of Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Piper Sandler reissued an “overweight” rating and issued a $88.00 target price (down previously from $93.00) on shares of Wayfair in a research report on Friday, February 23rd. Raymond James raised Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research report on Friday, February 16th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of Wayfair in a research report on Monday, March 25th. Finally, Royal Bank of Canada boosted their target price on Wayfair from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.03.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.