Nomura Asset Management Co. Ltd. Has $2.03 Million Stake in Wayfair Inc. $W

Key Points

• Nomura Asset Management sharply increased its Wayfair stake in the fourth quarter, boosting holdings by 1,642.4% to 20,212 shares valued at about $2.03 million.
• Wall Street sentiment on Wayfair is mixed but generally positive: analysts have a consensus rating of “Moderate Buy” with an average price target of $99.89, though several firms recently cut their targets.
• Wayfair reported Q1 revenue of $2.93 billion, topping estimates and rising 7.4% year over year, while EPS matched expectations at $0.26; however, insiders have been selling shares, including CEO Niraj Shah’s large planned sale.

Nomura Asset Management Co. Ltd. boosted its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 1,642.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,212 shares of the company's stock after acquiring an additional 19,052 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Wayfair were worth $2,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of W. Cornerstone Planning Group LLC lifted its position in Wayfair by 28,200.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company's stock worth $25,000 after acquiring an additional 282 shares during the last quarter. Webster Bank N. A. acquired a new position in Wayfair during the 4th quarter worth $30,000. V Square Quantitative Management LLC acquired a new position in Wayfair during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC lifted its position in Wayfair by 393.4% during the 2nd 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. Finally, True Wealth Design LLC lifted its position in Wayfair by 37.7% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the company's stock worth $45,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on W shares. Royal Bank Of Canada cut their target price on shares of Wayfair from $92.00 to $76.00 and set a "sector perform" rating for the company in a research report on Thursday, April 30th. Mizuho cut their target price on shares of Wayfair from $110.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, May 8th. Wells Fargo & Company cut their target price on shares of Wayfair from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Morgan Stanley set a $110.00 target price on shares of Wayfair in a research report on Friday, May 1st. Finally, Jefferies Financial Group cut their target price on shares of Wayfair from $86.00 to $70.00 and set a "hold" rating for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Wayfair currently has a consensus rating of "Moderate Buy" and an average target price of $99.89.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 113,863 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total value of $8,823,243.87. Following the sale, the chief executive officer owned 435,274 shares of the company's stock, valued at $33,729,382.26. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total transaction of $345,790.10. Following the completion of the sale, the insider directly owned 111,158 shares in the company, valued at approximately $8,024,496.02. The trade was a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 463,785 shares of company stock worth $35,864,224. 18.44% of the stock is currently owned by company insiders.

Wayfair Stock Performance

NYSE:W opened at $72.46 on Friday. The firm's 50-day moving average is $70.83 and its 200-day moving average is $86.75. Wayfair Inc. has a 52-week low of $43.69 and a 52-week high of $119.98. The company has a market cap of $9.57 billion, a price-to-earnings ratio of -30.97, a PEG ratio of 3.65 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business's revenue was up 7.4% compared to the same quarter last year. Equities analysts predict that Wayfair Inc. will post 0.63 EPS for the current year.

Wayfair Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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