Concurrent Investment Advisors LLC Takes Position in Wayfair Inc. $W

Concurrent Investment Advisors LLC bought a new position in shares of Wayfair Inc. (NYSE:W) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,296 shares of the company’s stock, valued at approximately $3,332,000.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Wayfair by 3.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock valued at $352,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC increased its position in shares of Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after acquiring an additional 233 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Wayfair by 12.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock worth $126,000 after acquiring an additional 270 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Wayfair by 5.5% during the second quarter. Amalgamated Bank now owns 5,348 shares of the company’s stock worth $273,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on W shares. Citigroup boosted their price target on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Wayfair in a report on Wednesday, October 8th. BMO Capital Markets set a $110.00 price target on shares of Wayfair and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. UBS Group lifted their price objective on shares of Wayfair from $102.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Argus boosted their price objective on shares of Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.71.

Insider Activity

In other news, CTO Fiona Tan sold 6,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the sale, the chief technology officer owned 198,860 shares in the company, valued at $19,993,384.40. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $102.33, for a total value of $3,069,900.00. Following the transaction, the insider owned 439,073 shares in the company, valued at approximately $44,930,340.09. This trade represents a 6.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,127,453 shares of company stock valued at $108,127,287. Company insiders own 21.91% of the company’s stock.

Wayfair Price Performance

NYSE:W opened at $114.42 on Thursday. Wayfair Inc. has a one year low of $20.41 and a one year high of $119.29. The company has a market cap of $14.91 billion, a P/E ratio of -44.70 and a beta of 3.31. The firm’s fifty day moving average price is $103.85 and its two-hundred day moving average price is $86.35.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.01 billion. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, equities research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wayfair Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.