M3 Advisory Group LLC Makes New $339,000 Investment in Wayfair Inc. (NYSE:W)

M3 Advisory Group LLC acquired a new stake in shares of Wayfair Inc. (NYSE:W) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,495 shares of the company’s stock, valued at approximately $339,000.

Several other large investors have also made changes to their positions in W. Vanguard Personalized Indexing Management LLC grew its holdings in Wayfair by 4.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock worth $409,000 after acquiring an additional 276 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after purchasing an additional 360 shares during the period. Amalgamated Bank increased its holdings in shares of Wayfair by 2.8% during the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock valued at $903,000 after purchasing an additional 397 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Wayfair by 3.8% in the 4th quarter. Teacher Retirement System of Texas now owns 12,514 shares of the company’s stock valued at $772,000 after purchasing an additional 454 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Wayfair during the fourth quarter worth $29,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the transaction, the chief technology officer now directly owns 51,095 shares in the company, valued at $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the sale, the insider now owns 219,073 shares of the company’s stock, valued at approximately $12,441,155.67. The disclosure for this sale can be found here. Insiders have sold 65,680 shares of company stock worth $4,164,783 in the last ninety days. 23.50% of the stock is owned by corporate insiders.

Wayfair Stock Performance

Shares of NYSE:W traded up $0.64 during trading hours on Monday, reaching $53.26. The stock had a trading volume of 2,691,088 shares, compared to its average volume of 4,354,159. Wayfair Inc. has a 1 year low of $38.37 and a 1 year high of $90.71. The firm’s 50 day moving average is $60.12 and its 200-day moving average is $58.79. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of -9.94 and a beta of 3.39.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Analysts forecast that Wayfair Inc. will post -2.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on W shares. Truist Financial boosted their price target on shares of Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Sanford C. Bernstein lifted their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. BMO Capital Markets increased their target price on Wayfair from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Argus raised Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Thursday, May 16th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of Wayfair in a research report on Friday, February 23rd. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $77.83.

Wayfair Company Profile

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.