Vanguard Group Inc. Buys 327,603 Shares of Wayfair Inc. (NYSE:W)

Vanguard Group Inc. lifted its stake in shares of Wayfair Inc. (NYSE:W) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,315,337 shares of the company’s stock after acquiring an additional 327,603 shares during the quarter. Vanguard Group Inc. owned approximately 7.43% of Wayfair worth $412,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after acquiring an additional 740,641 shares during the period. Groupama Asset Managment grew its stake in Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares during the period. Boston Partners increased its holdings in Wayfair by 138.0% in the fourth quarter. Boston Partners now owns 361,404 shares of the company’s stock worth $16,026,000 after purchasing an additional 209,581 shares in the last quarter. Wellington Management Group LLP lifted its stake in Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after buying an additional 201,157 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Wayfair during the 4th quarter worth approximately $6,799,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on W shares. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research report on Friday, February 21st. Bank of America reduced their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Truist Financial decreased their price objective on Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, February 21st. Guggenheim reiterated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Monday, March 10th. Finally, Wedbush restated a “neutral” rating and set a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Stock Performance

Shares of Wayfair stock opened at $33.70 on Thursday. Wayfair Inc. has a 52-week low of $29.68 and a 52-week high of $76.18. The company’s 50 day moving average price is $40.41 and its 200-day moving average price is $45.01. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of -8.38 and a beta of 3.44.

Wayfair (NYSE:W) last released its quarterly earnings data 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 analyst estimates of $3.07 billion. As a group, equities research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 4,521 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.88, for a total transaction of $211,944.48. Following the sale, the insider now owns 63,568 shares of the company’s stock, valued at $2,980,067.84. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares of the company’s stock, valued at $4,575,491.58. The trade was a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,577 shares of company stock worth $6,792,672 over the last three months. Company insiders own 26.81% of the company’s stock.

About Wayfair

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.