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 0.72% to 10.08 million shares with purchase of 71582.0 shares. This fresh investment now brings its stake to 14.90% valued currently at $2.68 billion. In addition, Prescott Investors, Inc. raised its holdings by 41100.0 to 4.91 million shares. And Morgan Stanley Investment Managem.. has lifted its position by 0.87% or 36134.0 shares – to 4.2 million shares.
With over 1.7 million Wayfair Inc. (W) shares trading Tuesday and a closing price of $306.83 on the day, the dollar volume was approximately $522.66 million. The shares have shown a negative weekly performance of -9.24% and its price on 09/01/20 gained nearly 3.46%. Currently, there are 94.83M common shares owned by the public and among those 63.39M 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: 34 analysts who have offered their price forecasts for W have a consensus price objective of $305.85. The analysts have set the share’s price value over the next 12 months at a high of $395.00 and a low of $160.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Wayfair Inc. stock is 2.50 for the next 12 months. The average price target is 0.26% above its last price level and an upside to the estimated low will see the stock lose -91.77% over that period. But an upside of 22.32% will see the stock hit the forecast high price target while mean target price for the stock is $321.00.
Insiders at the company have transacted a total of 249 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 94 of these insider trades were purchases, accounting for 1,872,219 shares. Insider sales of the common stock occurred on 155 occasions, with total insider shares sold totaling 1,451,413 shares.
The top 3 mutual fund holders in Wayfair Inc. are Fidelity Growth Company Fund, Vanguard Total Stock Market Index, and Vanguard US Growth Fund. Fidelity Growth Company Fund owns 4.03 million shares of the company’s stock, all valued at over $1.07 billion. The company sold 10666.0 shares recently to bring their total holdings to about 5.96% of the shares outstanding. Vanguard Total Stock Market Index sold 6581.0 shares to see its total holdings shrink to 1.73 million shares valued at over $460.64 million and representing 2.56% of the shares outstanding. Vanguard US Growth Fund sold 22375.0 shares to bring its total holdings to over 1.57 million shares at a value of $418.71 million. Vanguard US Growth Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of Wayfair Inc. (NYSE: W) opened at $298.50, up $1.94 from a prior closing price of $296.56. However, the script later closed the day at $306.83, up 3.46%. The company’s stock has a 5-day price change of -9.24% and 68.95% over the past three months. W shares are trading 239.53% year to date (YTD), with the 12-month market performance up to 180.77% higher. It has a 12-month low price of $21.70 and touched a high of $349.08 over the same period. Currently, 1.7 million shares have been traded, compared to an average intraday trading volume of 2.36 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 -3.33%, 17.65%, and 115.01% respectively.
Institutional ownership of Wayfair Inc. (NYSE: W) 94.83M shares outstanding. Mutual fund holders own 50.37%, while other institutional holders and individual stakeholders account for 64.72% and 23.95% respectively.
It has a market capitalization of $31.18B and a beta (3y monthly) value of 3.55. The earnings-per-share (ttm) stands at -$7.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.89% over the week and 5.99% over the month.
Analysts forecast that Wayfair Inc. (W) will achieve an EPS of $0.81 for the current quarter, $0.18 for the next quarter and $0.73 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of $2.35. Comparatively, EPS for the current quarter was -$2.23 a year ago. Earnings per share for the fiscal year are expected to decrease by -90.10%, and -70.61% 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 34 brokerage firm advisors rate Wayfair Inc. (W) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 14 of the 34 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. Guggenheim stated their Buy rating for the stock in a research note on August 19, 2020, with the firm’s price target at $360. Berenberg coverage for the Wayfair Inc. (W) stock in a research note released on August 12, 2020 offered a Sell rating with a price target of $180. DA Davidson was of a view on August 06, 2020 that the stock is Neutral, while Barclays gave the stock Equal Weight rating on August 06, 2020, issuing a price target of $321. Cowen on their part issued Outperform rating on August 03, 2020.