Quest Partners LLC Purchases 3,988 Shares of Wayfair Inc. (NYSE:W)

Quest Partners LLC grew its position in shares of Wayfair Inc. (NYSE:W) by 26,586.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,003 shares of the company’s stock after buying an additional 3,988 shares during the quarter. Quest Partners LLC’s holdings in Wayfair were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in W. Riverview Trust Co bought a new stake in Wayfair during the first quarter worth about $27,000. ORG Partners LLC acquired a new position in shares of Wayfair during the first quarter worth approximately $37,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair during the second quarter worth approximately $58,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Wayfair during the fourth quarter worth approximately $74,000. Finally, Comerica Bank lifted its position in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction 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 owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction 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 owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,102 shares of company stock valued at $2,076,659. Corporate insiders own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Loop Capital cut their price objective 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. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $58.00 in a report on Thursday, August 1st. Twelve investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.63.

Wayfair Stock Up 5.7 %

Shares of W stock opened at $47.35 on Monday. The firm has a fifty day moving average of $46.78 and a 200-day moving average of $55.11. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -8.83 and a beta of 3.40.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the company earned ($1.27) earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Wayfair Inc. will post -2.66 EPS for the current year.

Wayfair 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.