Commonwealth Equity Services LLC Purchases 2,825 Shares of Wayfair Inc. (NYSE:W)

Commonwealth Equity Services LLC boosted its holdings in shares of Wayfair Inc. (NYSE:W) by 38.2% in the second quarter, Holdings Channel.com reports. The fund owned 10,221 shares of the company’s stock after acquiring an additional 2,825 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Wayfair were worth $539,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in Wayfair in the 1st quarter worth approximately $27,000. ORG Partners LLC acquired a new position in Wayfair during the first quarter worth $37,000. International Assets Investment Management LLC purchased a new position in Wayfair in the 2nd quarter valued at about $58,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Wayfair in the fourth quarter valued at approximately $74,000. Finally, Comerica Bank boosted its stake in shares of Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jon Blotner sold 4,801 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total value of $244,610.95. Following the sale, the insider now directly owns 53,152 shares in the company, valued at $2,708,094.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $52.62, for a total value of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares in the company, valued at approximately $11,004,788.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 4,801 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total transaction of $244,610.95. Following the sale, the insider now directly owns 53,152 shares of the company’s stock, valued at $2,708,094.40. The disclosure for this sale can be found here. Insiders have sold a total of 41,113 shares of company stock valued at $2,126,623 in the last ninety days. Company insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on W. The Goldman Sachs Group decreased their price objective on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Guggenheim lowered their price target on shares of Wayfair from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Barclays cut their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wedbush reduced their price objective on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.63.

Wayfair Stock Down 2.6 %

W opened at $52.90 on Friday. The firm has a market cap of $6.37 billion, a P/E ratio of -9.87 and a beta of 3.40. Wayfair Inc. has a 52 week low of $38.02 and a 52 week high of $76.18. The business has a fifty day simple moving average of $46.48 and a 200-day simple moving average of $54.87.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (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 the consensus estimate of $3.18 billion. Wayfair’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.27) EPS. Sell-side analysts expect that Wayfair Inc. will post -2.66 earnings per share for the current year.

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.