Commonwealth Equity Services LLC Has $539,000 Position in Wayfair Inc. (NYSE:W)

Commonwealth Equity Services LLC boosted its holdings in shares of Wayfair Inc. (NYSE:W) by 38.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,221 shares of the company’s stock after buying an additional 2,825 shares during the period. Commonwealth Equity Services LLC’s holdings in Wayfair were worth $539,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its holdings in shares of Wayfair by 3.8% in the fourth quarter. Teacher Retirement System of Texas now owns 12,514 shares of the company’s stock valued at $772,000 after purchasing an additional 454 shares in the last quarter. Norges Bank bought a new position in Wayfair during the 4th quarter valued at $47,374,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Wayfair during the 4th quarter worth $74,000. Corient Private Wealth LLC boosted its holdings in Wayfair by 29.7% during the 4th quarter. Corient Private Wealth LLC now owns 23,314 shares of the company’s stock worth $1,438,000 after acquiring an additional 5,334 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Wayfair in the 4th quarter worth $212,000. 89.67% of the stock is owned by institutional investors.

Wayfair Price Performance

W stock opened at $52.90 on Friday. The firm has a 50 day simple moving average of $46.48 and a two-hundred day simple moving average of $54.87. The stock has a market cap of $6.37 billion, a PE ratio of -9.87 and a beta of 3.40. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.27) earnings per share. On average, research analysts expect that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total value of $336,152.50. Following the completion of the sale, the chief operating officer now owns 157,239 shares in the company, valued at approximately $7,978,306.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Niraj Shah sold 10,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $52.62, for a total transaction of $526,200.00. Following the sale, the chief executive officer now owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Thomas Netzer sold 6,625 shares of Wayfair stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total transaction of $336,152.50. Following the completion of the sale, the chief operating officer now owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The disclosure for this sale can be found here. Insiders sold 41,113 shares of company stock valued at $2,126,623 over the last three months. Insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Guggenheim reduced their target price on Wayfair from $80.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Citigroup lowered their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Loop Capital decreased their price objective on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a report on Friday, June 21st. Royal Bank of Canada reduced their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.63.

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.