Optimist Retirement Group LLC Increases Stock Position in Wayfair Inc. (NYSE:W)

Optimist Retirement Group LLC raised its holdings in Wayfair Inc. (NYSE:W) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,379 shares of the company’s stock after purchasing an additional 568 shares during the quarter. Optimist Retirement Group LLC’s holdings in Wayfair were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Seven Eight Capital LP purchased a new stake in Wayfair in the 2nd quarter valued at approximately $1,350,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Wayfair by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock valued at $381,000 after acquiring an additional 788 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Wayfair by 31.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,090 shares of the company’s stock valued at $286,000 after acquiring an additional 1,204 shares during the period. Highland Peak Capital LLC purchased a new stake in shares of Wayfair during the 2nd quarter worth approximately $5,165,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Wayfair in the 2nd quarter worth approximately $599,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Guggenheim reduced their price objective on Wayfair from $80.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Barclays cut their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Truist Financial dropped their target price on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Wedbush reduced their price target on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.63.

Wayfair Stock Performance

W opened at $50.75 on Thursday. Wayfair Inc. has a 1 year low of $38.02 and a 1 year high of $76.18. The company’s 50 day simple moving average is $46.58 and its 200 day simple moving average is $54.94. The stock has a market capitalization of $6.11 billion, a PE ratio of -9.47 and a beta of 3.40.

Wayfair (NYSE:W) last announced 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. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned ($1.27) earnings per share. As a group, sell-side analysts expect that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction 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 SEC, which is accessible through this link. In other news, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the completion of the sale, the chief executive officer now owns 209,137 shares of the company’s stock, valued at approximately $11,004,788.94. The disclosure for this sale can be found here. Insiders sold 41,113 shares of company stock valued at $2,126,623 over the last 90 days. Corporate insiders own 26.81% of the company’s stock.

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.