US Bancorp DE Sells 4,327 Shares of Wayfair Inc. (NYSE:W)

US Bancorp DE reduced its position in Wayfair Inc. (NYSE:W) by 56.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,282 shares of the company’s stock after selling 4,327 shares during the period. US Bancorp DE’s holdings in Wayfair were worth $145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair in the 3rd quarter valued at $44,000. Venturi Wealth Management LLC acquired a new stake in shares of Wayfair in the 4th quarter valued at $45,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wayfair in the 4th quarter valued at $48,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Wayfair in the 3rd quarter valued at $50,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

W has been the subject of a number of analyst reports. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada decreased their price objective 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. Canaccord Genuity Group decreased their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $47.00 in a research note on Friday, March 7th. Finally, StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Fourteen investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

Wayfair Price Performance

Shares of Wayfair stock opened at $31.85 on Friday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -7.92 and a beta of 3.44. The stock’s 50-day moving average is $43.39 and its 200-day moving average is $45.86. Wayfair Inc. has a one year low of $31.00 and a one year high of $76.18.

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

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now owns 559,073 shares in the company, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 8,249 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,228 shares of company stock worth $6,235,818 over the last three months. Corporate insiders own 26.81% of the company’s stock.

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.