River Global Investors LLP Reduces Stake in Wayfair Inc. (NYSE:W)

River Global Investors LLP cut its stake in shares of Wayfair Inc. (NYSE:W) by 43.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,519 shares of the company’s stock after selling 11,777 shares during the period. River Global Investors LLP’s holdings in Wayfair were worth $688,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Wayfair during the third quarter valued at $304,000. Capital Performance Advisors LLP bought a new stake in shares of Wayfair during the 3rd quarter valued at about $29,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Wayfair by 24.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,595 shares of the company’s stock worth $2,505,000 after purchasing an additional 8,675 shares in the last quarter. Entropy Technologies LP grew its holdings in shares of Wayfair by 33.4% during the third quarter. Entropy Technologies LP now owns 31,460 shares of the company’s stock worth $1,767,000 after purchasing an additional 7,884 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Wayfair by 18.3% in the third quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock worth $536,000 after purchasing an additional 1,479 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on W shares. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $47.00 in a report on Friday. Loop Capital reduced their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Stifel Nicolaus decreased their price objective on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Finally, Wedbush restated a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $57.69.

Wayfair Stock Performance

W opened at $35.05 on Friday. The stock’s 50 day moving average price is $44.61 and its 200-day moving average price is $46.25. Wayfair Inc. has a 52-week low of $32.50 and a 52-week high of $76.18. The stock has a market capitalization of $4.45 billion, a PE ratio of -8.72 and a beta of 3.44.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,228 shares of company stock worth $6,235,818 in the last quarter. 23.50% of the stock is owned by company insiders.

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.