Wayfair Inc. (NYSE:W) Stake Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Wayfair Inc. (NYSE:W) by 19.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,560 shares of the company’s stock after buying an additional 2,225 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Wayfair were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in W. Spruce House Partnership LLC acquired a new position in shares of Wayfair during the first quarter valued at approximately $1,510,800,000. Whale Rock Capital Management LLC acquired a new position in shares of Wayfair during the first quarter valued at approximately $506,216,000. Baillie Gifford & Co. increased its stake in shares of Wayfair by 18.4% during the second quarter. Baillie Gifford & Co. now owns 10,108,486 shares of the company’s stock valued at $3,191,349,000 after acquiring an additional 1,574,228 shares during the period. HarbourVest Partners LLC acquired a new position in shares of Wayfair during the first quarter valued at approximately $334,304,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Wayfair by 217.0% during the first quarter. Bank of New York Mellon Corp now owns 817,052 shares of the company’s stock valued at $257,168,000 after acquiring an additional 559,297 shares during the period. 83.65% of the stock is currently owned by institutional investors.

W has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Wayfair from $250.00 to $225.00 and set a “sell” rating on the stock in a research note on Wednesday, August 18th. Jefferies Financial Group lowered their price objective on shares of Wayfair from $355.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, August 6th. BNP Paribas assumed coverage on shares of Wayfair in a research report on Friday, July 16th. They issued an “outperform” rating and a $400.00 price target on the stock. Credit Suisse Group decreased their price target on shares of Wayfair from $392.00 to $380.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Wayfair from $240.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, August 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $325.63.

Shares of NYSE:W opened at $266.37 on Wednesday. The firm has a fifty day moving average of $281.83 and a two-hundred day moving average of $303.23. The firm has a market capitalization of $27.68 billion, a P/E ratio of 83.24, a price-to-earnings-growth ratio of 66.33 and a beta of 3.10. Wayfair Inc. has a 12-month low of $221.09 and a 12-month high of $369.00.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $1.52. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.93 billion. Wayfair had a net margin of 2.33% and a negative return on equity of 30.14%. Sell-side analysts expect that Wayfair Inc. will post 0.31 earnings per share for the current year.

In related news, CFO Michael D. Fleisher sold 750 shares of Wayfair stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $282.09, for a total value of $211,567.50. Following the completion of the sale, the chief financial officer now owns 99,423 shares of the company’s stock, valued at approximately $28,046,234.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 721 shares of Wayfair stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $242.06, for a total transaction of $174,525.26. Following the completion of the sale, the chief operating officer now directly owns 30,212 shares of the company’s stock, valued at approximately $7,313,116.72. The disclosure for this sale can be found here. Insiders have sold a total of 8,512 shares of company stock valued at $2,219,409 in the last three months. Company insiders own 27.53% of the company’s stock.

Wayfair Company Profile

Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the Company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through products sales in international sites.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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