Bridgewater Associates LP Buys Shares of 128,207 Wayfair Inc. (NYSE:W)

Bridgewater Associates LP purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 128,207 shares of the company’s stock, valued at approximately $7,203,000. Bridgewater Associates LP owned about 0.10% of Wayfair as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of Wayfair by 7.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 19,998 shares of the company’s stock worth $1,358,000 after acquiring an additional 1,400 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Wayfair by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,679 shares of the company’s stock valued at $3,644,000 after purchasing an additional 4,458 shares during the period. Tidal Investments LLC purchased a new stake in shares of Wayfair during the 1st quarter valued at about $3,172,000. Comerica Bank lifted its stake in shares of Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares during the period. Finally, Boston Partners bought a new position in shares of Wayfair in the 1st quarter worth approximately $769,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Up 0.2 %

NYSE:W opened at $45.41 on Friday. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The stock’s 50 day simple moving average is $47.48 and its two-hundred day simple moving average is $50.18.

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

Analysts Set New Price Targets

A number of analysts have commented on W shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Citigroup decreased their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Barclays cut their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.28.

Insider Activity

In related news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. This trade represents a 10.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,868 shares of company stock worth $3,272,548. 26.81% of the stock is currently owned by corporate insiders.

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.