Charles Schwab Investment Management Inc. Has $54.73 Million Stake in Wayfair Inc. (NYSE:W)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Wayfair Inc. (NYSE:W) by 35.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 974,255 shares of the company’s stock after purchasing an additional 253,681 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.78% of Wayfair worth $54,734,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Swiss National Bank grew its holdings in shares of Wayfair by 0.7% during the third quarter. Swiss National Bank now owns 178,500 shares of the company’s stock worth $10,028,000 after buying an additional 1,200 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Wayfair by 18.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock worth $536,000 after buying an additional 1,479 shares during the last quarter. Entropy Technologies LP boosted its position in Wayfair by 33.4% during the third quarter. Entropy Technologies LP now owns 31,460 shares of the company’s stock valued at $1,767,000 after purchasing an additional 7,884 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Wayfair by 24.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,595 shares of the company’s stock worth $2,505,000 after purchasing an additional 8,675 shares during the last quarter. Finally, River Global Investors LLP increased its holdings in Wayfair by 3.9% during the third quarter. River Global Investors LLP now owns 27,296 shares of the company’s stock worth $1,534,000 after buying an additional 1,017 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Loop Capital boosted their price objective on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft cut their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Robert W. Baird reduced their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. BMO Capital Markets reduced their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Finally, UBS Group cut their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Price Performance

Shares of W stock opened at $46.24 on Friday. The stock has a market capitalization of $5.79 billion, a PE ratio of -10.30 and a beta of 3.46. The business’s 50 day simple moving average is $47.35 and its 200 day simple moving average is $49.85. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the business posted ($1.38) earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. As a group, research analysts expect that Wayfair Inc. will post -2.89 earnings per share for the current year.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,868 shares of company stock worth $3,272,548. 26.81% of the stock is currently owned by company insiders.

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.