Swiss National Bank Has $4.47 Million Position in Wayfair Inc. (W)
Swiss National Bank increased its position in Wayfair Inc. (NYSE:W) by 19.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,200 shares of the company’s stock after acquiring an additional 9,300 shares during the quarter. Swiss National Bank owned about 0.07% of Wayfair worth $4,474,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. purchased a new stake in Wayfair in the 1st quarter worth approximately $1,650,000. Utah Retirement Systems purchased a new stake in Wayfair in the 2nd quarter worth approximately $539,000. Pacer Advisors Inc. increased its holdings in Wayfair by 45.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,124 shares of the company’s stock worth $167,000 after acquiring an additional 1,292 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in Wayfair in the 2nd quarter worth approximately $588,000. Finally, Clough Capital Partners L P increased its holdings in Wayfair by 46.1% in the 1st quarter. Clough Capital Partners L P now owns 318,664 shares of the company’s stock worth $11,716,000 after acquiring an additional 100,482 shares in the last quarter. 66.15% of the stock is owned by institutional investors.
In related news, insider Edmond Macri sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $75.01, for a total transaction of $45,006.00. Following the completion of the sale, the insider now directly owns 500 shares in the company, valued at $37,505. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 50,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $75.94, for a total value of $3,797,000.00. Following the completion of the sale, the insider now owns 230,925 shares of the company’s stock, valued at $17,536,444.50. The disclosure for this sale can be found here. Insiders have sold 864,170 shares of company stock valued at $63,815,987 over the last quarter. 56.93% of the stock is owned by company insiders.
Wayfair Inc. (W) opened at 74.59 on Friday. Wayfair Inc. has a 12-month low of $27.60 and a 12-month high of $83.36. The company has a 50 day moving average of $73.34 and a 200-day moving average of $62.21. The stock’s market capitalization is $6.50 billion.
Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned ($0.43) earnings per share. The firm’s revenue for the quarter was up 42.7% on a year-over-year basis. On average, equities research analysts forecast that Wayfair Inc. will post ($1.45) earnings per share for the current year.
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W has been the subject of several analyst reports. Gordon Haskett lowered shares of Wayfair from a “buy” rating to an “accumulate” rating and increased their target price for the stock from $70.00 to $85.00 in a report on Tuesday, June 27th. Piper Jaffray Companies set a $87.00 price objective on shares of Wayfair and gave the company a “buy” rating in a report on Saturday, July 1st. Buckingham Research reaffirmed a “buy” rating and set a $95.00 price objective (up from $72.00) on shares of Wayfair in a report on Thursday, July 13th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating on shares of Wayfair in a report on Tuesday, August 8th. Finally, BidaskClub lowered shares of Wayfair from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.84.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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