25,594 Shares in Wayfair Inc. (NYSE:W) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in Wayfair Inc. (NYSE:W) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,594 shares of the company’s stock, valued at approximately $1,350,000.

Several other hedge funds have also bought and sold shares of W. Riverview Trust Co acquired a new stake in shares of Wayfair during the 1st quarter valued at about $27,000. ORG Partners LLC acquired a new stake in Wayfair in the first quarter valued at approximately $37,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair in the second quarter valued at approximately $58,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Wayfair during the 4th quarter worth approximately $74,000. Finally, Comerica Bank lifted its position in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on W. Stifel Nicolaus cut their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Bank of America downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. Loop Capital lowered their price objective on Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Citigroup reduced their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Argus lowered Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $65.63.

Wayfair Stock Up 7.1 %

NYSE:W opened at $54.35 on Friday. The company has a market capitalization of $6.54 billion, a P/E ratio of -10.14 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 stock’s fifty day moving average is $46.56 and its two-hundred day moving average is $54.93.

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 company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.27) EPS. Sell-side analysts anticipate that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

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