KLP Kapitalforvaltning AS Has $1.04 Million Position in Wayfair Inc. $W

KLP Kapitalforvaltning AS grew its holdings in Wayfair Inc. (NYSE:W) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,400 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Wayfair were worth $1,043,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $42,000 after purchasing an additional 609 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after buying an additional 1,097 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of Wayfair in the second quarter valued at about $234,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Wayfair by 15,266.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock valued at $148,000 after buying an additional 4,580 shares during the period. Finally, Stonehearth Capital Management LLC bought a new stake in shares of Wayfair in the second quarter valued at about $265,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Price Performance

Shares of Wayfair stock opened at $79.17 on Wednesday. The firm has a market cap of $10.27 billion, a P/E ratio of -32.99 and a beta of 3.03. The firm has a 50 day simple moving average of $81.42 and a 200 day simple moving average of $56.61. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $91.77.

Wayfair (NYSE:W) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, sell-side analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven Conine sold 85,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total value of $7,377,150.00. Following the completion of the sale, the insider owned 374,073 shares of the company’s stock, valued at $32,465,795.67. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 85,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the sale, the chief executive officer directly owned 374,137 shares of the company’s stock, valued at approximately $32,471,350.23. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 910,000 shares of company stock valued at $70,308,337. 21.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

W has been the subject of several research reports. Gordon Haskett upgraded shares of Wayfair from a “hold” rating to a “moderate buy” rating in a research note on Monday, August 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of Wayfair in a research note on Tuesday, August 5th. Evercore ISI increased their target price on shares of Wayfair from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 target price (up previously from $38.00) on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company set a $84.00 price target on shares of Wayfair and gave the stock an “overweight” rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $73.73.

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.