Penserra Capital Management LLC Lowers Position in Wayfair Inc. (NYSE:W)

Penserra Capital Management LLC reduced its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,458 shares of the company's stock after selling 8,988 shares during the quarter. Penserra Capital Management LLC owned 0.09% of Wayfair worth $3,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after purchasing an additional 327,603 shares during the period. Sterling Capital Management LLC lifted its holdings in Wayfair by 60.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after buying an additional 2,116 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Wayfair by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company's stock worth $44,733,000 after buying an additional 35,057 shares during the period. LPL Financial LLC lifted its holdings in Wayfair by 218.2% in the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock worth $1,706,000 after buying an additional 26,390 shares during the period. Finally, Norges Bank purchased a new stake in Wayfair in the fourth quarter worth $31,472,000. 89.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on W shares. Mizuho dropped their price target on Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group dropped their target price on shares of Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Monday, May 12th. Morgan Stanley restated an "overweight" rating and issued a $70.00 price objective (up from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group restated a "buy" rating on shares of Wayfair in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.72.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 3,214 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $49.00, for a total value of $157,486.00. Following the completion of the sale, the chief technology officer directly owned 70,891 shares in the company, valued at $3,473,659. This represents a 4.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 7,094 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total transaction of $391,659.74. Following the completion of the sale, the insider directly owned 229,073 shares of the company's stock, valued at $12,647,120.33. This represents a 3.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,874 shares of company stock valued at $32,647,157 over the last 90 days. 21.91% of the stock is currently owned by corporate insiders.

Wayfair Price Performance

Wayfair stock traded down $1.65 during midday trading on Friday, reaching $57.18. The company's stock had a trading volume of 3,676,648 shares, compared to its average volume of 4,872,934. The stock has a market capitalization of $7.34 billion, a P/E ratio of -20.06 and a beta of 2.97. The stock's 50-day simple moving average is $45.02 and its 200-day simple moving average is $40.59. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $59.51.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the prior year, the firm earned ($0.32) EPS. Wayfair's revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

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.