Cerity Partners LLC Sells 2,670 Shares of Wayfair Inc. (NYSE:W)

Cerity Partners LLC reduced its stake in Wayfair Inc. (NYSE:W) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,367 shares of the company’s stock after selling 2,670 shares during the period. Cerity Partners LLC’s holdings in Wayfair were worth $797,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of W. J.Safra Asset Management Corp increased its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the period. GAMMA Investing LLC grew its holdings in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Wayfair during the fourth quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Wayfair during the fourth quarter valued at approximately $45,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Trading Up 5.7 %

NYSE:W opened at $26.58 on Friday. The stock has a 50-day moving average price of $34.55 and a 200 day moving average price of $42.49. The stock has a market capitalization of $3.37 billion, a P/E ratio of -6.61 and a beta of 3.72. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $76.18.

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

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total value of $1,453,500.00. Following the sale, the insider now directly owns 589,073 shares in the company, valued at $28,540,586.85. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the transaction, the chief technology officer now directly owns 111,128 shares of the company’s stock, valued at approximately $3,547,205.76. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,863 shares of company stock valued at $4,847,429. 21.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on W. JPMorgan Chase & Co. reduced their price objective on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $47.00 in a research report on Friday, March 7th. Stifel Nicolaus dropped their price target on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research note on Monday, March 10th. Finally, Wedbush reiterated a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Sixteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.92.

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.