Corient Private Wealth LLC Has $483,000 Stock Position in Wayfair Inc. (NYSE:W)

Corient Private Wealth LLC lessened its position in shares of Wayfair Inc. (NYSE:W) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,887 shares of the company’s stock after selling 4,264 shares during the quarter. Corient Private Wealth LLC’s holdings in Wayfair were worth $483,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Tabor Asset Management LP increased its stake in shares of Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares during the last quarter. Groupama Asset Managment grew its holdings in Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after purchasing an additional 500,000 shares during the period. Assenagon Asset Management S.A. bought a new stake in Wayfair in the fourth quarter valued at approximately $6,799,000. Wellington Management Group LLP raised its holdings in Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Wayfair in the third quarter worth $1,070,000. Institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on W shares. Canaccord Genuity Group decreased their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Wedbush reissued a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. BMO Capital Markets increased their target price on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, February 21st. Finally, Truist Financial dropped their price target on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Fourteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.81.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,521 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.88, for a total transaction of $211,944.48. Following the completion of the sale, the insider now owns 63,568 shares of the company’s stock, valued at approximately $2,980,067.84. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the transaction, the insider now owns 589,073 shares in the company, valued at $28,540,586.85. This trade represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,189 shares of company stock valued at $4,810,693 in the last 90 days. 26.81% of the stock is owned by corporate insiders.

Wayfair Stock Down 5.0 %

Shares of Wayfair stock opened at $33.84 on Friday. Wayfair Inc. has a 12-month low of $29.68 and a 12-month high of $76.18. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -8.42 and a beta of 3.44. The firm’s 50-day moving average price is $41.29 and its two-hundred day moving average price is $45.28.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, sell-side analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

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.