Wayfair Inc. (NYSE:W) Shares Sold by Comerica Bank

Comerica Bank cut its holdings in Wayfair Inc. (NYSE:W) by 52.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 672 shares of the company’s stock after selling 751 shares during the quarter. Comerica Bank’s holdings in Wayfair were worth $30,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of W. Vanguard Group Inc. raised its stake in shares of Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after acquiring an additional 327,603 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Wayfair in the 4th quarter worth about $6,799,000. Sterling Capital Management LLC lifted its position in shares of Wayfair by 60.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock worth $250,000 after buying an additional 2,116 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Wayfair by 5.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock worth $1,982,000 after buying an additional 2,250 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Wayfair during the 4th quarter valued at about $229,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,330 shares of company stock valued at $4,767,406 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

W has been the subject of several recent research reports. Argus raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, May 12th. Canaccord Genuity Group dropped their target price on shares of Wayfair from $68.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Guggenheim dropped their price target on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. UBS Group reduced their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus dropped their price objective on shares of Wayfair from $46.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Wayfair Price Performance

Shares of W stock opened at $38.65 on Tuesday. The company has a market capitalization of $4.90 billion, a P/E ratio of -9.61 and a beta of 2.93. The company’s 50-day simple moving average is $31.24 and its two-hundred day simple moving average is $39.93. Wayfair Inc. has a one year low of $20.41 and a one year high of $68.87.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) EPS. On average, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Wayfair Company 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.