Magnus Financial Group LLC Purchases New Position in Wayfair Inc. (NYSE:W)

Magnus Financial Group LLC acquired a new position in Wayfair Inc. (NYSE:W) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,243 shares of the company’s stock, valued at approximately $200,000.

A number of other large investors have also recently made changes to their positions in the business. M&T Bank Corp raised its holdings in Wayfair by 4.3% in the third quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock worth $318,000 after purchasing an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Wayfair by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock worth $409,000 after purchasing an additional 276 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wayfair in the fourth quarter worth $29,000. Raymond James & Associates lifted its holdings in shares of Wayfair by 9.3% during the third quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock valued at $347,000 after purchasing an additional 486 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Wayfair during the fourth quarter valued at $31,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Price Performance

NYSE:W opened at $51.17 on Tuesday. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of -7.85 and a beta of 3.29. The business has a 50 day simple moving average of $59.58 and a 200-day simple moving average of $55.04. Wayfair Inc. has a 1 year low of $29.51 and a 1 year high of $90.71.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. As a group, analysts expect that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup boosted their target price on Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Truist Financial cut their target price on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Stifel Nicolaus raised their price target on Wayfair from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. Barclays cut their price target on Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, January 4th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Wayfair in a research note on Friday, February 23rd. Ten analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.21.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 4,144 shares of Wayfair stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Steven Conine sold 8,300 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.31, for a total value of $434,173.00. Following the completion of the transaction, the insider now directly owns 259,073 shares of the company’s stock, valued at approximately $13,552,108.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares in the company, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. Insiders have sold a total of 89,808 shares of company stock worth $5,445,222 over the last quarter. Company insiders own 23.50% of the company’s stock.

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.