Pictet Asset Management Holding SA Raises Stake in Wayfair Inc. (NYSE:W)

Pictet Asset Management Holding SA increased its stake in Wayfair Inc. (NYSE:W) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,531 shares of the company’s stock after purchasing an additional 690 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wayfair were worth $555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after purchasing an additional 327,603 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Wayfair in the 4th quarter valued at about $6,799,000. Wellington Management Group LLP increased its holdings in Wayfair by 22.4% during the 3rd 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. Nisa Investment Advisors LLC raised its position in Wayfair by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock worth $1,982,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Wayfair in the fourth quarter valued at about $229,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on W. Stifel Nicolaus cut their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research note on Monday, March 10th. Truist Financial lowered their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Royal Bank of Canada lowered their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Fifteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.84.

Insider Activity

In other Wayfair news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the sale, the insider now owns 589,073 shares in the company, valued at $28,540,586.85. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 5,669 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the sale, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 128,532 shares of company stock worth $5,090,232. 23.50% of the stock is currently owned by insiders.

Wayfair Trading Down 12.3 %

W opened at $24.07 on Wednesday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $76.18. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -5.99 and a beta of 3.72. The company has a fifty day simple moving average of $38.08 and a 200 day simple moving average of $44.10.

Wayfair (NYSE:W) last announced its earnings results 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 firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

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.