Charles Schwab Investment Management Inc. Raises Stake in Wayfair Inc. (NYSE:W)

Charles Schwab Investment Management Inc. raised its holdings in shares of Wayfair Inc. (NYSE:W) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,009,312 shares of the company’s stock after acquiring an additional 35,057 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.81% of Wayfair worth $44,733,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in W. Southpoint Capital Advisors LP acquired a new position in Wayfair during the 3rd quarter worth approximately $78,652,000. Holocene Advisors LP boosted its holdings in shares of Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after buying an additional 740,641 shares during the period. Groupama Asset Managment increased its stake in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Trading Up 2.7 %

Shares of NYSE W opened at $31.85 on Friday. The firm’s 50-day moving average is $43.39 and its 200-day moving average is $45.84. The firm has a market capitalization of $4.04 billion, a PE ratio of -7.92 and a beta of 3.44. Wayfair Inc. has a 1 year low of $31.00 and a 1 year high of $76.18.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

W has been the subject of several research reports. Raymond James set a $60.00 price objective on shares of Wayfair and gave the stock a “strong-buy” rating in a research note on Friday, February 21st. Bank of America dropped their price target on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. BMO Capital Markets increased their target price on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, February 21st. Canaccord Genuity Group decreased their price target on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $56.81.

Insider Activity

In related news, CFO Kate Gulliver sold 5,974 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the sale, the chief financial officer now directly owns 129,964 shares in the company, valued at $5,841,881.80. The trade was a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now directly owns 171,790 shares in the company, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock worth $6,235,818 in the last quarter. Corporate insiders own 26.81% of the company’s stock.

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.