Wayfair Inc. (NYSE:W) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in Wayfair Inc. (NYSE:WGet Rating) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,179 shares of the company’s stock after buying an additional 876 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wayfair were worth $4,894,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Commerce Bank lifted its holdings in shares of Wayfair by 3.5% in the 4th quarter. Commerce Bank now owns 3,357 shares of the company’s stock valued at $638,000 after buying an additional 113 shares during the period. Envestnet Asset Management Inc. raised its holdings in Wayfair by 2.3% during the first quarter. Envestnet Asset Management Inc. now owns 9,324 shares of the company’s stock worth $1,033,000 after purchasing an additional 209 shares during the last quarter. Sciencast Management LP raised its holdings in Wayfair by 3.7% during the first quarter. Sciencast Management LP now owns 5,990 shares of the company’s stock worth $625,000 after purchasing an additional 215 shares during the last quarter. Transform Wealth LLC raised its holdings in Wayfair by 8.1% during the first quarter. Transform Wealth LLC now owns 3,355 shares of the company’s stock worth $372,000 after purchasing an additional 250 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in Wayfair by 0.3% during the fourth quarter. Eaton Vance Management now owns 72,759 shares of the company’s stock worth $13,693,000 after purchasing an additional 251 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Down 7.4 %

W stock opened at $39.20 on Friday. The stock has a 50-day moving average price of $55.06 and a two-hundred day moving average price of $70.26. Wayfair Inc. has a 12-month low of $38.70 and a 12-month high of $298.00. The company has a market cap of $4.16 billion, a PE ratio of -4.22 and a beta of 2.87.

Wayfair (NYSE:WGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($3.21) EPS for the quarter, topping analysts’ consensus estimates of ($3.24) by $0.03. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.19 billion. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Equities analysts forecast that Wayfair Inc. will post -12.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI reduced their price objective on Wayfair to $65.00 in a report on Thursday, June 9th. BNP Paribas cut Wayfair from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Tuesday, June 21st. Truist Financial reduced their price objective on Wayfair from $130.00 to $120.00 and set a “buy” rating for the company in a report on Monday, August 1st. Barclays dropped their price target on Wayfair from $57.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, August 5th. Finally, Wedbush raised their price target on Wayfair from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Ten equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $96.38.

Insiders Place Their Bets

In related news, CFO Michael D. Fleisher sold 5,874 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $53.99, for a total value of $317,137.26. Following the transaction, the chief financial officer now owns 66,664 shares in the company, valued at $3,599,189.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Steve Oblak sold 1,687 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $46.59, for a total value of $78,597.33. Following the transaction, the insider now owns 160,746 shares in the company, valued at $7,489,156.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael D. Fleisher sold 5,874 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $53.99, for a total value of $317,137.26. Following the completion of the transaction, the chief financial officer now owns 66,664 shares in the company, valued at approximately $3,599,189.36. The disclosure for this sale can be found here. Insiders have sold a total of 20,199 shares of company stock worth $993,625 over the last quarter. 26.81% of the stock is owned by corporate insiders.

Wayfair Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

Further Reading

Institutional Ownership by Quarter for Wayfair (NYSE:W)

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