Credit Agricole S A Purchases 13,327 Shares of Wayfair Inc. $W

Key Points

• Credit Agricole S A increased its stake in Wayfair Inc. by 255.9% in the first quarter, now holding 18,534 shares valued at approximately $594,000.
• Several institutional investors have also made significant adjustments to their Wayfair holdings, including GAMMA Investing LLC, which increased its stake by 5,850.4%.
• Wayfair stock received mixed ratings from analysts, with a current consensus target price of $67.65, indicating a "Moderate Buy" rating among equities research analysts.

Credit Agricole S A boosted its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 255.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,534 shares of the company's stock after buying an additional 13,327 shares during the quarter. Credit Agricole S A's holdings in Wayfair were worth $594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Wayfair by 5,850.4% in the first quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock worth $1,319,000 after buying an additional 41,538 shares during the last quarter. SG Americas Securities LLC increased its position in Wayfair by 74.4% in the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after buying an additional 9,372 shares during the last quarter. Northern Trust Corp grew its stake in shares of Wayfair by 11.4% during the 4th quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after acquiring an additional 47,326 shares during the period. Algert Global LLC bought a new position in shares of Wayfair during the 1st quarter worth $869,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Wayfair during the 4th quarter worth $4,262,000. 89.67% of the stock is owned by institutional investors.

Wayfair Price Performance

NYSE:W traded up $1.16 during trading hours on Thursday, hitting $75.65. The stock had a trading volume of 2,686,385 shares, compared to its average volume of 5,419,460. The company has a 50 day simple moving average of $64.31 and a two-hundred day simple moving average of $46.06. Wayfair Inc. has a one year low of $20.41 and a one year high of $81.94. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of -31.52 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.11 billion. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the completion of the sale, the insider owned 459,073 shares in the company, valued at approximately $36,757,975.11. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Niraj Shah sold 85,000 shares of Wayfair stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total value of $6,805,950.00. Following the sale, the chief executive officer owned 459,137 shares of the company's stock, valued at approximately $36,763,099.59. This trade represents a 15.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,240,204 shares of company stock valued at $81,706,986 in the last three months. 21.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

W has been the subject of several research reports. Gordon Haskett upgraded Wayfair from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 4th. UBS Group increased their target price on shares of Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Loop Capital reiterated a "sell" rating and set a $35.00 target price on shares of Wayfair in a research report on Wednesday, May 14th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Wayfair in a report on Wednesday. Finally, Bank of America raised their price objective on shares of Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of "Moderate Buy" and an average target price of $69.19.

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.