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 3.66% to 13.36 million shares with purchase of 0.47 million shares. This fresh investment now brings its stake to 14.48% valued currently at $824.42 million. In addition, Capital Research & Management Co raised its holdings by 0.4 million to 11.08 million shares. And The Vanguard Group, Inc. has lifted its position by 5.19% or 0.38 million shares – to 7.71 million shares.
Currently, there are 117.95M common shares owned by the public and among those 83.33M shares have been available to trade.
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Insiders at the company have transacted a total of 152 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 450,426 shares. Insider sales of the common stock occurred on 90 occasions, with total insider shares sold totaling 248,707 shares.
The top 3 mutual fund holders in Wayfair Inc are American Funds Growth Fund of Ame, American Funds Small Cap World Fu, and Fidelity Growth Company Fund. American Funds Growth Fund of Ame owns 7.67 million shares of the company’s stock, all valued at over $473.03 million. The company bought an additional 0.73 million shares recently to bring their total holdings to about 8.31% of the shares outstanding. American Funds Small Cap World Fu bought 100000.0 shares to see its total holdings expand to 3.75 million shares valued at over $231.3 million and representing 4.06% of the shares outstanding. Fidelity Growth Company Fund bought 31400.0 shares to bring its total holdings to over 3.58 million shares at a value of $220.82 million. Fidelity Growth Company Fund now owns shares totaling to 3.88% of the shares outstanding.
However, the script later moved the day high at 61.26, up 4.72%. The company’s stock has a 5-day price change of 15.44% and 34.32% over the past three months. W shares are trading -4.73% year to date (YTD), with the 12-month market performance up to 51.07% higher. It has a 12-month low price of $29.51 and touched a high of $90.71 over the same period. W has an average intraday trading volume of 4.58 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 0.89%, 6.98%, and 7.28% respectively.
Institutional ownership of Wayfair Inc (NYSE: W) shares accounts for 84.66% of the company’s 117.95M shares outstanding. Mutual fund holders own 51.74%, while other institutional holders and individual stakeholders account for 56.51% and 17.92% respectively.
It has a market capitalization of $6.93B and a beta (3y monthly) value of 3.32. The earnings-per-share (ttm) stands at -$8.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.02% over the week and 5.43% over the month.
Analysts forecast that Wayfair Inc (W) will achieve an EPS of -$0.15 for the current quarter, -$0.39 for the next quarter and $0.31 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.51 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was -$1.71 a year ago. Earnings per share for the fiscal year are expected to increase by 84.99%, and 154.57% over the next financial year.
Looking at the support for the W, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on January 16, 2024, with the firm’s price target at $60-$80.
