Amundi Decreases Holdings in Wayfair Inc. $W

Key Points

• Amundi cut its Wayfair stake by 95.4% in the first quarter, selling 180,480 shares and retaining 8,612 shares valued at approximately $648,000. Institutional investors and hedge funds collectively own 89.67% of the stock.
• Analysts maintain a generally positive outlook, with Wayfair receiving a consensus “Moderate Buy” rating and an average price target of $118.04. Recent targets range from $92 to $135.
• Wayfair exceeded quarterly expectations, reporting adjusted earnings of $0.95 per share versus a $0.90 consensus estimate and revenue of $3.52 billion, up 7.5% year over year.

Amundi trimmed its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 95.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,612 shares of the company's stock after selling 180,480 shares during the period. Amundi's holdings in Wayfair were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in W. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Wayfair by 29.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company's stock worth $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Wayfair by 30.4% in the 2nd quarter. Prudential Financial Inc. now owns 7,328 shares of the company's stock worth $375,000 after acquiring an additional 1,710 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Wayfair by 12.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company's stock worth $126,000 after acquiring an additional 270 shares during the period. M&T Bank Corp acquired a new stake in Wayfair in the second quarter valued at approximately $262,000. Finally, EverSource Wealth Advisors LLC grew its position in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock valued at $42,000 after acquiring an additional 653 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on W. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $120.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. BMO Capital Markets raised their price target on shares of Wayfair from $105.00 to $115.00 and gave the company a "market perform" rating in a report on Wednesday, August 5th. Truist Financial lifted their price target on shares of Wayfair from $99.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Wayfair in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Wayfair from $78.00 to $92.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Wayfair has a consensus rating of "Moderate Buy" and an average price target of $118.04.

Wayfair Price Performance

NYSE W opened at $103.32 on Tuesday. Wayfair Inc. has a 12 month low of $55.60 and a 12 month high of $119.98. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of -42.00, a price-to-earnings-growth ratio of 5.73 and a beta of 2.99. The company's fifty day moving average price is $88.00 and its two-hundred day moving average price is $81.73.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the business earned $0.87 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Wayfair Inc. will post 0.62 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 5,925 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares of the company's stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by corporate insiders.

Wayfair Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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