Marex Group plc Takes $652,000 Position in Wayfair Inc. $W

Marex Group plc bought a new stake in shares of Wayfair Inc. (NYSE:W) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,746 shares of the company’s stock, valued at approximately $652,000.

A number of other large investors have also bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares during the period. Parallel Advisors LLC raised its holdings in Wayfair by 229.0% during the 2nd 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 last quarter. IFP Advisors Inc boosted its position in Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after buying an additional 617 shares during the period. GFG Capital LLC purchased a new stake in Wayfair during the 2nd quarter valued at $102,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Wayfair by 12.3% in the 2nd 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 during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the completion of the transaction, the insider directly owned 729,073 shares of the company’s stock, valued at $77,223,412.16. This trade represents a 17.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 150,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the sale, the chief executive officer directly owned 729,137 shares in the company, valued at $77,222,899.67. The trade was a 17.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 955,959 shares of company stock valued at $88,260,274 in the last three months. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on W shares. Zacks Research downgraded shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. BMO Capital Markets set a $110.00 price target on Wayfair and gave the company a “market perform” rating in a report on Wednesday, October 29th. UBS Group increased their price objective on Wayfair from $102.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Mizuho lifted their price objective on Wayfair from $88.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Oppenheimer upped their target price on Wayfair from $100.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Two investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.29.

Wayfair Stock Performance

W stock opened at $97.26 on Monday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $114.92. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of -37.99 and a beta of 3.25. The business’s 50 day moving average price is $95.91 and its two-hundred day moving average price is $77.22.

Wayfair (NYSE:W) last released its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. Sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

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.