Toronto Dominion Bank Makes New $1.54 Million Investment in Wayfair Inc. (NYSE:W)

Toronto Dominion Bank bought a new position in Wayfair Inc. (NYSE:W - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 34,672 shares of the company's stock, valued at approximately $1,536,000.

Several other hedge funds have also added to or reduced their stakes in W. Capital World Investors boosted its position in shares of Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after purchasing an additional 782,757 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after acquiring an additional 327,603 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Wayfair by 13.6% during the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock worth $273,887,000 after buying an additional 740,641 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Wayfair by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock valued at $169,952,000 after acquiring an additional 581,000 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Wayfair by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company's stock worth $68,584,000 after purchasing an additional 22,078 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on W. Citigroup lifted their target price on shares of Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. UBS Group decreased their price objective on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. cut their price target on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a report on Monday, May 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 4,861 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $40.12, for a total value of $195,023.32. Following the sale, the insider now owns 544,414 shares in the company, valued at $21,841,889.68. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Niraj Shah sold 2,258 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total value of $90,342.58. Following the completion of the transaction, the chief executive officer now directly owns 541,627 shares of the company's stock, valued at $21,670,496.27. The trade was a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,330 shares of company stock valued at $3,377,506 over the last 90 days. Insiders own 21.91% of the company's stock.

Wayfair Stock Performance

W traded up $4.72 during trading on Tuesday, hitting $40.92. 6,323,955 shares of the stock were exchanged, compared to its average volume of 4,744,967. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -10.18 and a beta of 2.93. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $62.43. The firm has a 50 day simple moving average of $31.77 and a 200 day simple moving average of $39.78.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. The company's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) earnings per share. As a group, equities analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

About Wayfair

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.