Assenagon Asset Management S.A. Buys Shares of 153,411 Wayfair Inc. (NYSE:W)

Assenagon Asset Management S.A. purchased a new position in Wayfair Inc. (NYSE:W) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 153,411 shares of the company’s stock, valued at approximately $6,799,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Wayfair during the 3rd quarter worth $29,000. GAMMA Investing LLC boosted its holdings in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wayfair during the third quarter worth about $44,000. Brooklyn Investment Group acquired a new stake in shares of Wayfair in the 3rd quarter worth about $50,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in Wayfair in the 3rd quarter valued at about $67,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares in the company, valued at $33,614,929.22. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,150 shares of company stock worth $6,250,114 over the last 90 days. 23.50% of the stock is owned by company insiders.

Wayfair Stock Up 3.9 %

Shares of Wayfair stock opened at $45.02 on Monday. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market capitalization of $5.64 billion, a PE ratio of -10.03 and a beta of 3.43. The stock’s fifty day moving average is $45.67 and its 200-day moving average is $47.30.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the firm posted ($1.38) EPS. Wayfair’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts expect that Wayfair Inc. will post -2.91 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on W shares. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st. Wedbush downgraded Wayfair from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $44.00 in a research note on Monday, January 6th. Truist Financial reduced their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, BMO Capital Markets lowered their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.24.

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.