Fidelity Management & Research Co has recently announced that it has increased stake in Wayfair Inc (NYSE:W) by 3.66%. After grabbing 13.36 million shares, the institutional investor is now in possession of 0.47 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 14.48% having worth around $745.59 million. Moreover, Capital Research & Management Co increased its share by 0.4 million to have a control over 11.08 million shares. And The Vanguard Group, Inc. raised its holdings to 0.38 million shares by acquiring 7.71 million shares or 8.36% of the stake.
Wayfair Inc (W) concluded trading on 01/10/24 at a closing price of $56.43, with 3.19 million shares of worth about $180.16 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -18.03% during that period and on Wednesday the price saw a gain of about 1.22%. Currently the company’s common shares owned by public are about 117.95M shares, out of which, 83.26M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 39 analysts are covering the W stock and their offered price forecasts bring an average price target of $66.03. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $100.00 and could fall to a lowest price of $42.00. The stock’s current price level is 14.54% above of average price target set by the analysts, while a rise to estimated low would result in loss of -34.36% for the stock. However, touching the estimated high of $100.00 would mean a gain of 43.57% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 154 times over the past 12 months. They bought 453,426 shares in 63 of the transactions. In 91 selling transactions, insiders dumped 249,561 shares.
American Funds Growth Fund of Ame, American Funds Small Cap World Fu, and Fidelity Growth Company Fund are the top 3 mutual funds which are holding stakes in Wayfair Inc American Funds Growth Fund of Ame is currently holding 6.94 million shares of worth totaling $387.19 million. The company recently came selling 23248.0 shares which brought its stake up to 7.52% of the company’s outstanding shares. Fidelity Growth Company Fund, after buying 3.58 million shares, have now control over 3.88% of the stake in the company. It holds 31400.0 shares of worth $199.71 million.
Wayfair Inc (NYSE: W) started trading at $56.30, above $0.55 from concluding price of the previous day. Stock saw a price change of 2.53% in past 5 days and over the past one month there was a price change of 2.41%. Year-to-date (YTD), W shares are showing a performance of -8.54% which increased to 49.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $29.51 but also hit the highest price of $90.71 during that period. The average intraday trading volume for Wayfair Inc shares is 4.29 million. The stock is currently trading -7.07% below its 20-day simple moving average (SMA20), while that difference is up 5.03% for SMA50 and it goes to 4.29% higher than SMA200.
Fidelity Management & Research Co acquired 13.36 million shares of Wayfair Inc having value of about $745.59 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.47 million shares in the company valued at close to $26626156.92, or have control over 3.66% stake in the company. Wayfair Inc (NYSE: W) currently have 117.95M outstanding shares and institutions hold larger chunk of about 84.84% of that. Holding of mutual funds in the company is about 51.84% while other institutional holders and individual stake holders have control over 56.64% and 17.92% of the stake respectively.
The stock has a current market capitalization of $6.66B and its 3Y-monthly beta is at 3.33. It has posted earnings per share of -$8.29 in the same period. It has Quick Ratio of 0.85. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for W, volatility over the week remained 4.54% while standing at 5.65% over the month.
Analysts are in expectations that Wayfair Inc (W) stock would likely to be making an EPS of -$0.14 in the current quarter, while forecast for next quarter EPS is -$0.42 and it is $0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.51 which is $0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 84.91% while it is estimated to increase by 115.06% in next year.
Analysts at 39 brokerage firms have issued recommendations for the Wayfair Inc (W)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.08. Out of those 39 Wall Street analysts, 17 recommended a “Buy” rating, while 20 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on January 09, 2024 offering a Market perform rating for the stock and assigned a target price of $57 to it.
