Wayfair Inc. $W Shares Sold by US Bancorp DE

US Bancorp DE reduced its position in Wayfair Inc. (NYSE:W) by 20.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,612 shares of the company’s stock after selling 670 shares during the period. US Bancorp DE’s holdings in Wayfair were worth $84,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of W. True Wealth Design LLC boosted its stake in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $42,000 after purchasing an additional 609 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock worth $250,000 after purchasing an additional 2,116 shares during the last quarter. Optas LLC lifted its position in shares of Wayfair by 103.3% during the first quarter. Optas LLC now owns 9,274 shares of the company’s stock worth $297,000 after purchasing an additional 4,712 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in Wayfair in the first quarter worth about $320,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Niraj Shah sold 199,422 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares of the company’s stock, valued at approximately $42,660,340.80. This trade represents a 26.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 13,857 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $56.45, for a total transaction of $782,227.65. Following the completion of the sale, the insider directly owned 91,263 shares in the company, valued at approximately $5,151,796.35. The trade was a 13.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,215,789 shares of company stock valued at $73,975,995 over the last three months. 21.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on W. Citigroup upgraded Wayfair from a “neutral” rating to a “buy” rating and increased their price target for the stock from $32.00 to $93.00 in a research report on Tuesday, August 5th. Loop Capital reaffirmed a “sell” rating and issued a $35.00 target price on shares of Wayfair in a research report on Wednesday, May 14th. Guggenheim reduced their price target on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Wedbush reaffirmed a “neutral” rating on shares of Wayfair in a report on Tuesday, August 5th. Finally, Bank of America lifted their price objective on shares of Wayfair from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.96.

Wayfair Price Performance

Shares of NYSE:W opened at $78.82 on Monday. The stock has a market capitalization of $10.22 billion, a P/E ratio of -32.84 and a beta of 2.92. The business has a 50-day moving average of $59.17 and a two-hundred day moving average of $44.16. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $80.50.

Wayfair (NYSE:W) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. Wayfair’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

About Wayfair

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.