Canada Pension Plan Investment Board Acquires 358,100 Shares of Wayfair Inc. (NYSE:W)

Canada Pension Plan Investment Board increased its stake in shares of Wayfair Inc. (NYSE:WFree Report) by 3,978.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 367,100 shares of the company’s stock after purchasing an additional 358,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Wayfair were worth $22,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Wayfair during the 2nd quarter valued at about $35,482,000. Jump Financial LLC boosted its position in Wayfair by 50.1% in the 3rd quarter. Jump Financial LLC now owns 29,187 shares of the company’s stock valued at $1,768,000 after buying an additional 9,744 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Wayfair by 3,144.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 304,255 shares of the company’s stock valued at $18,429,000 after purchasing an additional 294,877 shares during the last quarter. Mane Global Capital Management LP acquired a new stake in shares of Wayfair in the 2nd quarter valued at about $10,369,000. Finally, ING Groep NV purchased a new position in Wayfair during the 3rd quarter worth approximately $4,016,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on W shares. Stifel Nicolaus raised their price objective on shares of Wayfair from $52.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Guggenheim cut their price target on shares of Wayfair from $100.00 to $65.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Needham & Company LLC dropped their price objective on Wayfair from $100.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Morgan Stanley raised shares of Wayfair from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $80.00 in a research note on Tuesday, January 16th. Finally, Loop Capital upgraded shares of Wayfair from a “sell” rating to a “hold” rating and cut their target price for the stock from $60.00 to $50.00 in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.38.

Get Our Latest Report on W

Wayfair Trading Up 1.6 %

Shares of W stock opened at $52.42 on Monday. The stock’s fifty day simple moving average is $56.75 and its 200-day simple moving average is $58.67. Wayfair Inc. has a 1-year low of $29.51 and a 1-year high of $90.71.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 982 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $62.87, for a total value of $61,738.34. Following the transaction, the chief operating officer now owns 118,715 shares in the company, valued at $7,463,612.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $52.78, for a total transaction of $527,800.00. Following the transaction, the insider now owns 279,073 shares of the company’s stock, valued at $14,729,472.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas Netzer sold 982 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $62.87, for a total transaction of $61,738.34. Following the completion of the sale, the chief operating officer now directly owns 118,715 shares of the company’s stock, valued at $7,463,612.05. The disclosure for this sale can be found here. Insiders sold 61,310 shares of company stock valued at $3,329,709 over the last three months. 26.81% of the stock is owned by corporate insiders.

About Wayfair

(Free Report)

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, d├ęcor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.

See Also

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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