Brooklyn Investment Group Purchases Shares of 895 Wayfair Inc. (NYSE:W)

Brooklyn Investment Group purchased a new stake in Wayfair Inc. (NYSE:W) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 895 shares of the company’s stock, valued at approximately $50,000.

Several other institutional investors also recently bought and sold shares of W. Renaissance Technologies LLC increased its holdings in shares of Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP increased its holdings in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Wayfair by 35.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after buying an additional 253,681 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after buying an additional 227,908 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Wayfair during the 2nd quarter worth $8,189,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the sale, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. The trade was a 14.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,868 shares of company stock worth $3,272,548. Insiders own 26.81% of the company’s stock.

Wayfair Price Performance

W stock opened at $46.29 on Friday. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18. The firm has a fifty day moving average price of $47.35 and a two-hundred day moving average price of $50.00. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -10.31 and a beta of 3.46.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm earned ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that Wayfair Inc. will post -2.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on W. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st. Robert W. Baird dropped their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. StockNews.com downgraded Wayfair from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair 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.