Mirae Asset Global Investments Co. Ltd. Lowers Stock Position in Wayfair Inc. (NYSE:W)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Wayfair Inc. (NYSE:W) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 47,755 shares of the company’s stock after selling 272 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Wayfair were worth $2,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Wayfair by 16.9% during the first quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock worth $259,000 after acquiring an additional 342 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Wayfair during the first quarter worth approximately $378,000. Panagora Asset Management Inc. raised its stake in shares of Wayfair by 42.7% during the first quarter. Panagora Asset Management Inc. now owns 2,204 shares of the company’s stock worth $244,000 after acquiring an additional 659 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Wayfair by 51.6% during the first quarter. Vontobel Holding Ltd. now owns 12,740 shares of the company’s stock worth $1,548,000 after acquiring an additional 4,338 shares in the last quarter. Finally, Aviva PLC raised its stake in shares of Wayfair by 1.5% during the first quarter. Aviva PLC now owns 23,470 shares of the company’s stock worth $2,600,000 after acquiring an additional 346 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,144 shares of Wayfair 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 completion of the transaction, the insider now owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. Insiders sold a total of 89,808 shares of company stock valued at $5,445,222 in the last quarter. 26.81% of the stock is owned by insiders.

Wayfair Stock Performance

Shares of W stock opened at $54.74 on Thursday. Wayfair Inc. has a 12 month low of $29.51 and a 12 month high of $90.71. The company’s fifty day moving average price is $59.35 and its 200-day moving average price is $55.18.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. As a group, research analysts expect that Wayfair Inc. will post -3.37 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on W. Stifel Nicolaus lifted their price target on shares of Wayfair from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. BMO Capital Markets assumed coverage on shares of Wayfair in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $57.00 target price on the stock. Truist Financial decreased their target price on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.03.

Wayfair Profile

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.