Wayfair Inc. (NYSE:W) Position Increased by Comerica Bank

Comerica Bank increased its stake in shares of Wayfair Inc. (NYSE:W) by 210.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,222 shares of the company’s stock after acquiring an additional 829 shares during the period. Comerica Bank’s holdings in Wayfair were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in W. International Assets Investment Management LLC increased its stake in shares of Wayfair by 8,977.8% in the fourth quarter. International Assets Investment Management LLC now owns 67,993 shares of the company’s stock valued at $4,195,000 after purchasing an additional 67,244 shares during the period. Daiwa Securities Group Inc. raised its stake in Wayfair by 243.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,714 shares of the company’s stock valued at $476,000 after acquiring an additional 5,470 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Wayfair by 5.6% during the 4th quarter. Handelsbanken Fonder AB now owns 17,100 shares of the company’s stock worth $1,055,000 after acquiring an additional 900 shares during the period. GAMMA Investing LLC bought a new position in shares of Wayfair in the fourth quarter worth $31,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Wayfair by 4.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,356 shares of the company’s stock worth $3,045,000 after purchasing an additional 2,215 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Up 0.3 %

Shares of NYSE W opened at $44.29 on Monday. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18. The business has a 50-day moving average price of $50.58 and a two-hundred day moving average price of $56.35. The firm has a market capitalization of $5.33 billion, a PE ratio of -8.26 and a beta of 3.43.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company posted ($1.27) EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts anticipate that Wayfair Inc. will post -2.8 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Gordon Haskett downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Argus raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Thursday, May 16th. BMO Capital Markets raised their price objective on shares of Wayfair from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Morgan Stanley upped their target price on Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada lowered their price target on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $65.63.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the insider now directly owns 219,073 shares of the company’s stock, valued at approximately $12,441,155.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Thomas Netzer sold 6,625 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the completion of the sale, the chief operating officer now directly owns 157,239 shares in the company, valued at $7,978,306.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the insider now owns 219,073 shares in the company, valued at $12,441,155.67. The disclosure for this sale can be found here. Insiders sold 50,102 shares of company stock valued at $2,644,559 in the last quarter. Company insiders own 26.81% of the company’s stock.

About Wayfair

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.