CIBC Private Wealth Group LLC Buys 6,133 Shares of Wayfair Inc. (NYSE:W)

CIBC Private Wealth Group LLC raised its stake in Wayfair Inc. (NYSE:WFree Report) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 99,726 shares of the company’s stock after acquiring an additional 6,133 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Wayfair were worth $6,153,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after purchasing an additional 386,717 shares in the last quarter. Atreides Management LP boosted its stake in Wayfair by 1.8% in the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock worth $58,826,000 after purchasing an additional 16,932 shares in the last quarter. Norges Bank acquired a new position in Wayfair in the fourth quarter worth $47,374,000. Charles Schwab Investment Management Inc. boosted its stake in Wayfair by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock worth $41,595,000 after purchasing an additional 39,545 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Wayfair by 67.7% in the third quarter. Wellington Management Group LLP now owns 644,622 shares of the company’s stock worth $39,045,000 after purchasing an additional 260,237 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Performance

Shares of Wayfair stock opened at $59.44 on Friday. The business’s 50 day simple moving average is $61.31 and its 200 day simple moving average is $58.51. Wayfair Inc. has a 52-week low of $38.37 and a 52-week high of $90.71. The firm has a market cap of $7.15 billion, a PE ratio of -11.09 and a beta of 3.39.

Wayfair (NYSE:WGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. As a group, equities research analysts predict that Wayfair Inc. will post -3.03 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the transaction, the chief operating officer now owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wayfair news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the transaction, the chief operating officer now owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the transaction, the insider now directly owns 229,073 shares in the company, valued at approximately $15,636,522.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,664 shares of company stock valued at $3,656,493. 26.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on W. Piper Sandler reaffirmed an “overweight” rating and set a $91.00 price target (up previously from $88.00) on shares of Wayfair in a research note on Friday, May 3rd. Argus raised Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Thursday, May 16th. Mizuho began coverage on Wayfair in a research note on Tuesday, March 19th. They set a “buy” rating and a $72.00 price target on the stock. Sanford C. Bernstein upped their price target on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets upped their price target on Wayfair from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.83.

View Our Latest Research Report on Wayfair

Wayfair Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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