ProShare Advisors LLC Trims Stock Holdings in Wayfair Inc. (NYSE:W)

ProShare Advisors LLC decreased its stake in Wayfair Inc. (NYSE:W - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,323 shares of the company's stock after selling 83,341 shares during the quarter. ProShare Advisors LLC owned approximately 0.06% of Wayfair worth $3,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital World Investors increased its position in Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after buying an additional 782,757 shares in the last quarter. Vanguard Group Inc. increased its position in Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after buying an additional 327,603 shares in the last quarter. Baillie Gifford & Co. increased its position in Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock worth $273,887,000 after buying an additional 740,641 shares in the last quarter. Renaissance Technologies LLC increased its position in Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock worth $169,952,000 after buying an additional 581,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Wayfair by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company's stock worth $68,584,000 after buying an additional 22,078 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on W shares. Stifel Nicolaus reduced their price target on Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Mizuho dropped their price objective 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 price objective on Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Truist Financial set a $40.00 price objective on Wayfair in a research note on Friday, May 2nd. Finally, Zelman & Associates began coverage on Wayfair in a research note on Thursday, May 15th. They issued an "outperform" rating for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and an average target price of $43.83.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 2,246 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,330 shares of company stock worth $4,767,406. 21.91% of the stock is currently owned by company insiders.

Wayfair Price Performance

NYSE:W opened at $38.65 on Tuesday. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -9.61 and a beta of 2.93. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $68.87. The business has a 50 day simple moving average of $31.24 and a 200-day simple moving average of $39.93.

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

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.

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