Bank of New York Mellon Corp boosted its stake in Wayfair Inc. (NYSE:W) by 331.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 583,843 shares of the company’s stock after purchasing an additional 448,390 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Wayfair worth $39,351,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Wayfair by 16.3% during the second quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock worth $232,857,000 after purchasing an additional 423,631 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Wayfair during the second quarter worth $27,345,000. Renaissance Technologies LLC lifted its position in shares of Wayfair by 818.5% during the second quarter. Renaissance Technologies LLC now owns 338,000 shares of the company’s stock worth $25,985,000 after purchasing an additional 301,200 shares in the last quarter. FMR LLC lifted its position in shares of Wayfair by 2.7% during the second quarter. FMR LLC now owns 7,757,688 shares of the company’s stock worth $596,411,000 after purchasing an additional 207,443 shares in the last quarter. Finally, Mohican Financial Management LLC acquired a new position in shares of Wayfair during the third quarter worth $194,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
Wayfair Inc. (NYSE:W) traded up $3.08 during trading on Friday, hitting $79.26. 2,064,636 shares of the stock traded hands, compared to its average volume of 1,125,954. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17. Wayfair Inc. has a fifty-two week low of $34.30 and a fifty-two week high of $84.19.
Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.03. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Wayfair had a negative net margin of 5.06% and a negative return on equity of 658.45%. The company’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. equities research analysts predict that Wayfair Inc. will post -2.63 EPS for the current year.
In other Wayfair news, CTO John Champlin Mulliken sold 700 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $57.01, for a total value of $39,907.00. Following the completion of the sale, the chief technology officer now directly owns 185,128 shares of the company’s stock, valued at approximately $10,554,147.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edmond Macri sold 600 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $73.84, for a total transaction of $44,304.00. Following the completion of the sale, the insider now directly owns 756 shares of the company’s stock, valued at $55,823.04. The disclosure for this sale can be found here. Insiders sold a total of 39,800 shares of company stock valued at $2,774,564 in the last quarter. 56.93% of the stock is currently owned by insiders.
A number of research firms have recently commented on W. KeyCorp reissued a “hold” rating on shares of Wayfair in a research report on Friday, September 29th. Robert W. Baird reaffirmed a “hold” rating and issued a $73.00 price target on shares of Wayfair in a report on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $89.00 price target on shares of Wayfair in a report on Wednesday. Canaccord Genuity reaffirmed a “buy” rating and issued a $90.00 price target on shares of Wayfair in a report on Sunday, October 1st. Finally, Stifel Nicolaus upped their price target on shares of Wayfair from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. Wayfair has a consensus rating of “Buy” and an average target price of $76.22.
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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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