International Assets Investment Management LLC Takes Position in Wayfair Inc. (NYSE:W)

International Assets Investment Management LLC purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,102 shares of the company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in W. Vanguard Group Inc. grew its stake in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the period. SageView Advisory Group LLC purchased a new position in Wayfair in the first quarter valued at about $937,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after acquiring an additional 119,415 shares during the period. Sei Investments Co. increased its stake in shares of Wayfair by 14.6% during the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after purchasing an additional 12,809 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Wayfair during the 1st quarter worth approximately $9,000,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares in the company, valued at approximately $3,244,707.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction on 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 approximately $12,441,155.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the sale, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,102 shares of company stock worth $2,644,559. Corporate insiders own 26.81% of the company’s stock.

Wayfair Trading Up 2.5 %

Shares of NYSE W opened at $41.93 on Thursday. The business has a 50-day moving average of $48.01 and a 200-day moving average of $55.64. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -7.82 and a beta of 3.40. Wayfair Inc. has a 12 month low of $38.02 and a 12 month high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.27) earnings per share. On average, analysts predict that Wayfair Inc. will post -2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays dropped their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Loop Capital cut their price target on Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.63.

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.