Norges Bank Invests $31.47 Million in Wayfair Inc. (NYSE:W)

Norges Bank bought a new stake in Wayfair Inc. (NYSE:W) during the fourth quarter, HoldingsChannel.com reports. The fund bought 710,098 shares of the company’s stock, valued at approximately $31,472,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. J.Safra Asset Management Corp lifted its holdings in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the last quarter. GAMMA Investing LLC raised its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair during the third quarter worth approximately $44,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Wayfair during the fourth quarter worth approximately $45,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. The trade was a 11.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total value of $1,453,500.00. Following the completion of the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,388 shares of company stock worth $5,930,556. 26.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on W shares. Raymond James set a $60.00 price target on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Loop Capital reduced their target price on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered their price target on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Monday, March 10th. Finally, Citigroup lowered shares of Wayfair from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $58.00 to $28.00 in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.84.

Wayfair Price Performance

W stock opened at $25.95 on Friday. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -6.46 and a beta of 3.72. The company has a 50 day simple moving average of $39.50 and a 200 day simple moving average of $44.68. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

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.