abrdn plc Sells 809 Shares of Wayfair Inc. (NYSE:W)

abrdn plc cut its stake in shares of Wayfair Inc. (NYSE:WGet Rating) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,003 shares of the company’s stock after selling 809 shares during the quarter. abrdn plc’s holdings in Wayfair were worth $290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of W. Envestnet Asset Management Inc. boosted its position in Wayfair by 2.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,324 shares of the company’s stock worth $1,033,000 after purchasing an additional 209 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Wayfair by 5.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 5,854 shares of the company’s stock worth $648,000 after purchasing an additional 281 shares during the last quarter. HighTower Advisors LLC boosted its position in Wayfair by 16.9% in the first quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock worth $259,000 after purchasing an additional 342 shares during the last quarter. Aviva PLC lifted its position in shares of Wayfair by 1.5% during the 1st quarter. Aviva PLC now owns 23,470 shares of the company’s stock valued at $2,600,000 after buying an additional 346 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Wayfair by 2.6% during the 1st quarter. Teacher Retirement System of Texas now owns 15,068 shares of the company’s stock valued at $1,669,000 after buying an additional 376 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Michael D. Fleisher sold 5,617 shares of the company’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $35.02, for a total value of $196,707.34. Following the sale, the chief financial officer now owns 74,797 shares in the company, valued at $2,619,390.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Wayfair news, CFO Michael D. Fleisher sold 5,617 shares of the stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $35.02, for a total transaction of $196,707.34. Following the completion of the transaction, the chief financial officer now owns 74,797 shares of the company’s stock, valued at $2,619,390.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Fiona Tan sold 4,294 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $36.73, for a total value of $157,718.62. Following the transaction, the chief technology officer now directly owns 28,380 shares of the company’s stock, valued at approximately $1,042,397.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,309 shares of company stock valued at $1,054,126. Company insiders own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays lowered their price objective on Wayfair from $50.00 to $34.00 and set an “underweight” rating on the stock in a research report on Sunday, November 6th. Truist Financial dropped their target price on Wayfair from $60.00 to $50.00 in a report on Monday. William Blair assumed coverage on Wayfair in a report on Tuesday, August 2nd. They issued an “outperform” rating for the company. Cowen dropped their target price on Wayfair from $84.00 to $80.00 in a report on Thursday, October 27th. Finally, Piper Sandler dropped their target price on Wayfair from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, July 20th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Hold” and an average target price of $79.69.

Wayfair Price Performance

Shares of NYSE:W opened at $36.80 on Friday. The business’s 50-day moving average is $38.11 and its 200 day moving average is $50.75. Wayfair Inc. has a 1 year low of $28.11 and a 1 year high of $298.00. The firm has a market capitalization of $3.91 billion, a P/E ratio of -3.28 and a beta of 2.92.

Wayfair Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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