Ameritas Advisory Services LLC Takes Position in Wayfair Inc. $W

Key Points

• Ameritas Advisory Services initiated a Wayfair position in the second quarter, purchasing 14,047 shares valued at approximately $1.3 million. Institutional investors collectively own 89.67% of the company.
• Wayfair’s CEO Niraj Shah and director Steven Conine each sold 69,000 shares at an average price of $103.36 under pre-arranged Rule 10b5-1 plans; insiders sold about $15.5 million of stock over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $119.89. Wayfair recently beat quarterly earnings and revenue estimates, reporting $0.95 EPS and $3.52 billion in revenue, up 7.5% year over year.

Ameritas Advisory Services LLC bought a new stake in Wayfair Inc. (NYSE:W - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,047 shares of the company's stock, valued at approximately $1,298,000.

Several other large investors have also recently added to or reduced their stakes in the business. Piper Sandler & CO. purchased a new stake in Wayfair in the 4th quarter valued at about $34,000. Havemeyer Place LP acquired a new stake in shares of Wayfair in the fourth quarter worth approximately $39,000. EverSource Wealth Advisors LLC boosted its position in shares of Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after acquiring an additional 653 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Wayfair in the fourth quarter valued at approximately $44,000. Finally, Larson Financial Group LLC increased its position in Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company's stock worth $46,000 after purchasing an additional 120 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Steven Conine sold 69,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the sale, the director owned 360,073 shares in the company, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the transaction, the chief executive officer directly owned 360,137 shares in the company, valued at $37,223,760.32. The trade was a 16.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 150,893 shares of company stock valued at $15,532,531 in the last ninety days. Corporate insiders own 18.44% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Wayfair from $105.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $120.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Rosenblatt Securities began coverage on Wayfair in a report on Thursday, August 20th. They issued a "buy" rating and a $125.00 price objective on the stock. Benchmark began coverage on Wayfair in a research note on Tuesday, July 7th. They issued a "hold" rating on the stock. Finally, BMO Capital Markets increased their target price on shares of Wayfair from $105.00 to $115.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.89.

Wayfair Stock Performance

Shares of NYSE W opened at $97.52 on Friday. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $119.98. The stock's 50-day simple moving average is $96.58 and its 200-day simple moving average is $82.58. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of -39.64, a PEG ratio of 3.60 and a beta of 2.99.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. Wayfair's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share. As a group, research analysts predict that Wayfair Inc. will post 0.93 EPS for the current year.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.

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