Fidelity Management & Research Co… recently announced the acquisition of new stake in Wayfair Inc. (NYSE:W). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.14% to 10.01 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 14.79% valued currently at $1.98 billion. In addition, The Vanguard Group, Inc. raised its holdings by 86474.0 to 5.54 million shares. And Ruane, Cunniff & Goldfarb LP has lifted its position by 29.46% or 1.18 million shares – to 5.17 million shares.
With over 3.04 million Wayfair Inc. (W) shares trading Friday and a closing price of $266.09 on the day, the dollar volume was approximately $808.97 million. The shares have shown a positive weekly performance of 19.44% and its price on 07/31/20 gained nearly 3.97%. Currently, there are 94.09M common shares owned by the public and among those 62.78M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 32 analysts who have offered their price forecasts for W have a consensus price objective of $204.60. The analysts have set the share’s price value over the next 12 months at a high of $300.00 and a low of $100.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Wayfair Inc. stock is 2.60 for the next 12 months. The average price target is -41.51% below its last price level and a downside to the estimated low will see the stock lose -166.09% over that period. But an upside of 11.3% will see the stock hit the forecast high price target while mean target price for the stock is $208.00.
Insiders at the company have transacted a total of 238 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 96 of these insider trades were purchases, accounting for 1,701,756 shares. Insider sales of the common stock occurred on 142 occasions, with total insider shares sold totaling 1,386,229 shares.
The top 3 mutual fund holders in Wayfair Inc. are Fidelity Growth Company Fund, Sequoia Fund, and Vanguard Total Stock Market Index. Fidelity Growth Company Fund owns 4.04 million shares of the company’s stock, all valued at over $798.63 million. The company sold 1320.0 shares recently to bring their total holdings to about 5.97% of the shares outstanding. Sequoia Fund bought 0.4 million shares to see its total holdings expand to 1.86 million shares valued at over $367.59 million and representing 2.75% of the shares outstanding. Vanguard Total Stock Market Index sold 64398.0 shares to bring its total holdings to over 1.74 million shares at a value of $343.39 million. Vanguard Total Stock Market Index now owns shares totaling to 2.57% of the shares outstanding.
Shares of Wayfair Inc. (NYSE: W) opened at $260.57, up $4.65 from a prior closing price of $255.92. However, the script later closed the day at $266.09, up 3.97%. The company’s stock has a 5-day price change of 19.44% and 117.22% over the past three months. W shares are trading 194.45% year to date (YTD), with the 12-month market performance up to 105.32% higher. It has a 12-month low price of $21.70 and touched a high of $256.19 over the same period. Currently, 3.04 million shares have been traded, compared to an average intraday trading volume of 2.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.31%, 32.32%, and 123.57% respectively.
Institutional ownership of Wayfair Inc. (NYSE: W) 94.09M shares outstanding. Mutual fund holders own 52.79%, while other institutional holders and individual stakeholders account for 70.25% and 23.75% respectively.
It has a market capitalization of $24.64B and a beta (3y monthly) value of 3.35. The earnings-per-share (ttm) stands at -$11.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.65% over the week and 5.33% over the month.
Analysts forecast that Wayfair Inc. (W) will achieve an EPS of $0.82 for the current quarter, -$1.02 for the next quarter and -$2.98 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.32 while analysts give the company a high EPS estimate of $2.64. Comparatively, EPS for the current quarter was -$1.35 a year ago. Earnings per share for the fiscal year are expected to decrease by -90.10%, and 24.20% over the next financial year. EPS should grow at an annualized rate of 14.00% over the next five years, compared to -29.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 32 brokerage firm advisors rate Wayfair Inc. (W) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 12 of the 32 advise that investors “hold,” and 6 rated it as a “Sell.”
Looking at the support for the W, a number of firms have released research notes about the stock. Wedbush stated their Outperform rating for the stock in a research note on July 14, 2020, with the firm’s price target at $165-$240. Piper Sandler coverage for the Wayfair Inc. (W) stock in a research note released on June 02, 2020 offered a Overweight rating with a price target of $225. Citigroup was of a view on May 15, 2020 that the stock is Sell, while Evercore ISI gave the stock In-line rating on May 14, 2020, issuing a price target of . Loop Capital on their part issued Hold rating on May 05, 2020.