Assenagon Asset Management S.A. Has $1.17 Million Position in Wayfair Inc. (NYSE:W)

Assenagon Asset Management S.A. cut its position in Wayfair Inc. (NYSE:W - Free Report) by 76.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,456 shares of the company's stock after selling 116,955 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Wayfair were worth $1,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp grew its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after buying an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after acquiring an additional 502 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Wayfair during the 4th quarter worth $41,000. Finally, GAMMA Investing LLC raised its holdings in 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 acquiring an additional 609 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Steven Conine sold 2,246 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total value of $89,862.46. Following the transaction, the insider now directly owns 542,168 shares in the company, valued at $21,692,141.68. This trade represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kate Gulliver sold 19,296 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the sale, the chief financial officer now owns 144,474 shares of the company's stock, valued at $4,575,491.58. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,915 shares of company stock worth $9,258,415. 21.91% of the stock is owned by corporate insiders.

Wayfair Stock Up 0.3%

W opened at $48.48 on Wednesday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $58.42. The company has a fifty day moving average of $35.77 and a 200-day moving average of $40.05. The stock has a market cap of $6.22 billion, a PE ratio of -17.01 and a beta of 2.94.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. The business's revenue was up .0% on a year-over-year basis. During the same period last year, the business posted ($0.32) earnings per share. Sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on W. Zelman & Associates initiated coverage on shares of Wayfair in a research report on Thursday, May 15th. They set an "outperform" rating for the company. Guggenheim dropped their target price on shares of Wayfair from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Loop Capital reaffirmed a "sell" rating and set a $35.00 price target on shares of Wayfair in a report on Wednesday, May 14th. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Monday, May 12th. 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 note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.96.

Wayfair Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.