Newbridge Financial Services Group Inc. Invests $48,000 in Wayfair Inc. (NYSE:W)

Newbridge Financial Services Group Inc. acquired a new position in Wayfair Inc. (NYSE:W) in the 4th quarter, Holdings Channel reports. The firm acquired 1,085 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors and hedge funds have also bought and sold shares of W. Tabor Asset Management LP boosted its position in Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares in the last quarter. Groupama Asset Managment boosted its position in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Wayfair during the 4th quarter valued at approximately $6,799,000. Wellington Management Group LLP boosted its position in shares of Wayfair by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Wayfair in the 3rd quarter worth approximately $1,070,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares of the company’s stock, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock worth $7,709,418 in the last three months. Corporate insiders own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on W. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus dropped their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Loop Capital boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, Truist Financial dropped their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

Wayfair Trading Down 0.2 %

Shares of W opened at $44.42 on Wednesday. The firm has a market cap of $5.57 billion, a PE ratio of -9.89 and a beta of 3.43. The firm has a fifty day simple moving average of $47.25 and a two-hundred day simple moving average of $46.71. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18.

About Wayfair

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.