12,474 Shares in Wayfair Inc. (NYSE:W) Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. purchased a new position in shares of Wayfair Inc. (NYSE:W) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,474 shares of the company’s stock, valued at approximately $770,000.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in shares of Wayfair in the third quarter valued at $1,147,000. Vanguard Group Inc. grew its position in shares of Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after purchasing an additional 386,717 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Wayfair by 3,978.9% in the third quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company’s stock valued at $22,235,000 after purchasing an additional 358,100 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Wayfair by 88.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock valued at $38,438,000 after purchasing an additional 297,235 shares in the last quarter. Finally, Jump Financial LLC grew its position in shares of Wayfair by 50.1% in the third quarter. Jump Financial LLC now owns 29,187 shares of the company’s stock valued at $1,768,000 after purchasing an additional 9,744 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on W shares. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Wayfair in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $80.00 price target on shares of Wayfair in a research report on Monday, March 25th. Truist Financial reduced their price target on Wayfair from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Barclays reduced their target price on Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, January 4th. Finally, Royal Bank of Canada boosted their target price on Wayfair from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.03.

Wayfair Trading Down 1.9 %

NYSE W opened at $55.34 on Wednesday. Wayfair Inc. has a 1-year low of $29.51 and a 1-year high of $90.71. The stock has a 50-day moving average of $59.25 and a 200-day moving average of $55.18. The firm has a market cap of $6.66 billion, a PE ratio of -8.49 and a beta of 3.29.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities research analysts forecast that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $64.58, for a total value of $645,800.00. Following the completion of the sale, the chief executive officer now owns 239,137 shares of the company’s stock, valued at approximately $15,443,467.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the completion of the transaction, the chief operating officer now owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the transaction, the chief executive officer now directly owns 239,137 shares of the company’s stock, valued at approximately $15,443,467.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,664 shares of company stock valued at $5,194,427. Insiders own 26.81% of the company’s stock.

Wayfair 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.