Flynn Zito Capital Management LLC Invests $249,000 in Wayfair Inc. (NYSE:W)

Flynn Zito Capital Management LLC purchased a new position in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,043 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Wayfair by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after acquiring an additional 386,717 shares during the period. Capital World Investors raised its holdings in Wayfair by 2.8% during the 1st quarter. Capital World Investors now owns 3,681,729 shares of the company’s stock worth $407,862,000 after buying an additional 100,946 shares during the period. Spruce House Investment Management LLC raised its holdings in Wayfair by 4.3% during the 4th quarter. Spruce House Investment Management LLC now owns 3,650,000 shares of the company’s stock worth $120,048,000 after buying an additional 150,000 shares during the period. Ruane Cunniff & Goldfarb L.P. lifted its stake in Wayfair by 9.1% in the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock valued at $381,085,000 after buying an additional 285,729 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of Wayfair by 30.3% in the first quarter. Two Sigma Investments LP now owns 1,291,717 shares of the company’s stock valued at $44,358,000 after buying an additional 300,645 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $64.58, for a total transaction of $645,800.00. Following the completion of the sale, the chief executive officer now directly owns 239,137 shares of the company’s stock, valued at approximately $15,443,467.46. The disclosure for this sale can be found here. Insiders have sold 89,808 shares of company stock valued at $5,445,222 in the last quarter. Insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

W has been the topic of a number of research analyst reports. Mizuho initiated coverage on shares of Wayfair in a report on Tuesday, March 19th. They set a “buy” rating and a $72.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Wayfair in a report on Tuesday, January 9th. They set a “market perform” rating and a $57.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $88.00 price objective (down from $93.00) on shares of Wayfair in a report on Friday, February 23rd. Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of Wayfair in a report on Monday, March 25th. Finally, Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Wayfair in a report on Friday, February 23rd. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $77.03.

Wayfair Price Performance

Shares of W traded down $0.01 during trading hours on Thursday, hitting $54.74. The company’s stock had a trading volume of 3,118,223 shares, compared to its average volume of 4,280,027. The company has a market cap of $6.59 billion, a price-to-earnings ratio of -8.40 and a beta of 3.29. The business has a 50 day simple moving average of $59.35 and a two-hundred day simple moving average of $55.18. Wayfair Inc. has a 52-week low of $29.51 and a 52-week high of $90.71.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Research analysts predict that Wayfair Inc. will post -3.37 earnings per share for the current year.

About Wayfair

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.