IFP Advisors Inc Buys 3,435 Shares of Wayfair Inc. (NYSE:W)

IFP Advisors Inc grew its stake in shares of Wayfair Inc. (NYSE:W) by 1,156.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,732 shares of the company’s stock after purchasing an additional 3,435 shares during the period. IFP Advisors Inc’s holdings in Wayfair were worth $165,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tabor Asset Management LP grew its holdings in shares of Wayfair by 11.3% in the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares in the last quarter. Groupama Asset Managment grew its holdings in shares of Wayfair by 100.0% in the third 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Wayfair in the fourth quarter valued at approximately $6,799,000. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 201,157 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Wayfair in the third quarter valued at approximately $1,070,000. 89.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on W. Stifel Nicolaus reduced their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a report on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Truist Financial reduced 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. Mizuho reduced their price objective on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Canaccord Genuity Group reduced their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.12.

Wayfair Stock Performance

Shares of W stock opened at $36.68 on Tuesday. Wayfair Inc. has a 52-week low of $36.58 and a 52-week high of $76.18. The company has a market capitalization of $4.60 billion, a PE ratio of -9.12 and a beta of 3.43. The business’s fifty day moving average is $45.44 and its 200 day moving average is $46.53.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the transaction, the insider now directly owns 602,573 shares in the company, valued at approximately $27,567,714.75. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,228 shares of company stock worth $7,830,018. Corporate 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.