Prospera Financial Services Inc Makes New Investment in Wayfair Inc. (NYSE:W)

Prospera Financial Services Inc acquired a new position in Wayfair Inc. (NYSE:WGet Rating) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,259 shares of the company’s stock, valued at approximately $139,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Wayfair in the 4th quarter valued at about $3,314,000. Yousif Capital Management LLC acquired a new stake in shares of Wayfair in the 4th quarter valued at about $203,000. CWM LLC acquired a new stake in shares of Wayfair in the 4th quarter valued at about $55,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Wayfair by 1.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 14,616 shares of the company’s stock valued at $2,777,000 after purchasing an additional 172 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Wayfair in the 4th quarter valued at about $1,536,000. Institutional investors and hedge funds own 85.89% of the company’s stock.

Wayfair Price Performance

W stock opened at $62.91 on Friday. Wayfair Inc. has a 12 month low of $43.31 and a 12 month high of $317.45. The firm has a market cap of $6.62 billion, a PE ratio of -13.77 and a beta of 2.91. The firm has a 50 day simple moving average of $52.81 and a 200 day simple moving average of $90.94.

Wayfair (NYSE:WGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.05). The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Wayfair’s revenue was down 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Wayfair Inc. will post -11.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cowen lowered their price objective on shares of Wayfair from $140.00 to $84.00 in a research report on Monday. Piper Sandler lowered their price objective on shares of Wayfair from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, July 20th. Stifel Nicolaus lowered their price objective on shares of Wayfair from $60.00 to $55.00 in a research report on Friday, July 15th. Evercore ISI lowered their price objective on shares of Wayfair to $65.00 in a research report on Thursday, June 9th. Finally, MKM Partners initiated coverage on shares of Wayfair in a research report on Thursday, July 28th. They set a “neutral” rating and a $50.00 price objective for the company. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $99.96.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 2,170 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $56.45, for a total value of $122,496.50. Following the completion of the sale, the chief operating officer now owns 51,125 shares in the company, valued at approximately $2,886,006.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Thomas Netzer sold 2,170 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $56.45, for a total value of $122,496.50. Following the completion of the sale, the chief operating officer now owns 51,125 shares in the company, valued at approximately $2,886,006.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steve Oblak sold 2,037 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $43.90, for a total transaction of $89,424.30. Following the completion of the sale, the insider now owns 157,052 shares of the company’s stock, valued at approximately $6,894,582.80. The disclosure for this sale can be found here. Insiders sold a total of 20,251 shares of company stock valued at $994,669 over the last ninety days. Insiders own 27.04% of the company’s stock.

About Wayfair

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three 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, and Perigold brands.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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