BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys New Stake in Wayfair Inc. (NYSE:W)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Wayfair Inc. (NYSE:W) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 155,309 shares of the company’s stock, valued at approximately $8,189,000.

Other hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of Wayfair during the first quarter worth $27,000. ORG Partners LLC acquired a new position in Wayfair in the 1st quarter worth $37,000. International Assets Investment Management LLC purchased a new position in Wayfair in the 2nd quarter valued at about $58,000. Comerica Bank grew its stake in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Wayfair during the second quarter worth about $109,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on W shares. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Stifel Nicolaus decreased their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Loop Capital cut their price target on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Finally, Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.63.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,395 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the transaction, the insider now directly owns 43,926 shares in the company, valued at $2,463,809.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the sale, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,113 shares of company stock valued at $2,126,623. Company insiders own 26.81% of the company’s stock.

Wayfair Price Performance

Shares of W stock opened at $51.67 on Thursday. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -9.64 and a beta of 3.40. The business has a 50 day simple moving average of $46.36 and a 200 day simple moving average of $54.68.

Wayfair (NYSE:W) last issued 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business earned ($1.27) earnings per share. On average, equities analysts anticipate that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

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.