RFG Advisory LLC Acquires New Position in Wayfair Inc. (NYSE:W)

RFG Advisory LLC bought a new position in Wayfair Inc. (NYSE:W) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,163 shares of the company’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also bought and sold shares of W. Capital World Investors increased its position in shares of Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after acquiring an additional 962,307 shares during the period. Norges Bank bought a new position in shares of Wayfair during the fourth quarter valued at approximately $47,374,000. AQR Capital Management LLC boosted its holdings in Wayfair by 422.6% in the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock valued at $30,979,000 after acquiring an additional 413,592 shares in the last quarter. Vanguard Group Inc. increased its position in Wayfair by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after purchasing an additional 386,717 shares during the period. Finally, Kodai Capital Management LP bought a new position in Wayfair in the 4th quarter worth $23,552,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Price Performance

Shares of NYSE:W opened at $49.76 on Wednesday. The firm has a fifty day simple moving average of $59.05 and a two-hundred day simple moving average of $58.62. Wayfair Inc. has a 52 week low of $38.37 and a 52 week high of $90.71.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. On average, equities research analysts predict that Wayfair Inc. will post -2.94 EPS for the current year.

Analyst Upgrades and Downgrades

W has been the subject of several research analyst reports. Argus upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Thursday, May 16th. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective on shares of Wayfair in a research note on Thursday, May 16th. BMO Capital Markets raised their target price 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. Royal Bank of Canada boosted their price target on Wayfair from $61.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Monday, May 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $91.00 price objective (up previously from $88.00) on shares of Wayfair in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Insider Activity

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the sale, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at $3,222,050.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 3,022 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $64.94, for a total transaction of $196,248.68. Following the completion of the transaction, the insider now directly owns 42,101 shares in the company, valued at approximately $2,734,038.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,680 shares of company stock valued at $4,164,783. 23.50% of the stock is currently owned by company insiders.

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.