Chemistry Wealth Management LLC Has $1.81 Million Stock Position in Wayfair Inc. (NYSE:W)

Chemistry Wealth Management LLC lifted its stake in Wayfair Inc. (NYSE:W) by 12.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,656 shares of the company’s stock after purchasing an additional 2,998 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Wayfair were worth $1,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of W. Riverview Trust Co purchased a new stake in Wayfair in the 1st quarter worth about $27,000. RFG Advisory LLC purchased a new stake in Wayfair in the 1st quarter worth about $283,000. M3 Advisory Group LLC purchased a new stake in Wayfair in the 4th quarter worth about $339,000. Vanguard Group Inc. lifted its stake in Wayfair by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock worth $500,014,000 after acquiring an additional 273,652 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Wayfair by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the transaction, the insider now directly owns 229,073 shares of the company’s stock, valued at $15,636,522.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jon Blotner sold 4,144 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares in the company, valued at $2,297,157.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the sale, the insider now owns 229,073 shares in the company, valued at $15,636,522.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,680 shares of company stock valued at $4,164,783. Company insiders own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the subject of a number of recent research reports. Citigroup raised their price target on Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Wayfair in a research note on Thursday, May 16th. Truist Financial raised their price target on Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. BMO Capital Markets raised their price target on Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley increased their price objective on Wayfair from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.50.

Wayfair Price Performance

Shares of W stock traded up $0.43 on Wednesday, reaching $50.23. 2,916,164 shares of the stock were exchanged, compared to its average volume of 4,288,691. Wayfair Inc. has a one year low of $38.37 and a one year high of $90.71. The stock has a 50 day moving average price of $58.96 and a 200 day moving average price of $58.56. The stock has a market cap of $6.05 billion, a PE ratio of -9.37 and a beta of 3.39.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. On average, research analysts expect that Wayfair Inc. will post -2.94 earnings per share for the current fiscal 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.