Caitong International Asset Management Co. Ltd Buys 4,580 Shares of Wayfair Inc. (NYSE:W)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Wayfair Inc. by 15,266.7% in the first quarter, acquiring 4,580 additional shares, bringing their total to 4,610 shares valued at $148,000.
• Wayfair's stock performance showed a recent earnings report of $0.87 EPS, exceeding expectations of $0.33, alongside revenue of $3.27 billion, which was above the anticipated $3.11 billion.
• Analysts have adjusted their price targets for Wayfair, with the average target moving to $65.96, reflecting a consensus of 16 buy ratings and a "Moderate Buy" average rating from sell-side analysts.

Caitong International Asset Management Co. Ltd grew its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 15,266.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,610 shares of the company's stock after buying an additional 4,580 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Wayfair were worth $148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of W. LPL Financial LLC grew its stake in shares of Wayfair by 218.2% during the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company's stock valued at $1,706,000 after buying an additional 26,390 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Wayfair by 148.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,971 shares of the company's stock worth $752,000 after purchasing an additional 10,152 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Wayfair by 2.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company's stock worth $1,857,000 after purchasing an additional 920 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after purchasing an additional 2,116 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Wayfair by 152.1% during the fourth quarter. XTX Topco Ltd now owns 25,007 shares of the company's stock worth $1,108,000 after purchasing an additional 15,089 shares during the period. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Performance

W stock opened at $78.82 on Thursday. The firm has a 50 day moving average price of $57.82 and a 200-day moving average price of $43.82. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $79.90. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of -32.84 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Wayfair's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 17,742 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $77.29, for a total transaction of $1,371,279.18. Following the completion of the sale, the chief executive officer owned 143,559 shares of the company's stock, valued at $11,095,675.11. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Blotner sold 13,857 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $56.45, for a total transaction of $782,227.65. Following the sale, the insider directly owned 91,263 shares of the company's stock, valued at $5,151,796.35. This trade represents a 13.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 816,894 shares of company stock valued at $42,702,627 over the last 90 days. Corporate insiders own 21.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Evercore ISI increased their target price on shares of Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. The Goldman Sachs Group increased their target price on shares of Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Bank of America increased their target price on shares of Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Finally, Zelman & Associates increased their target price on shares of Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $65.96.

Wayfair Company 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.

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