Victory Capital Management Inc. Has $358,000 Stock Position in Wayfair Inc. (NYSE:W)

Key Points

• Victory Capital Management Inc. has significantly reduced its stake in Wayfair Inc. by 93.8%, leaving it with a position valued at approximately $358,000.
• Wayfair's CEO Niraj Shah sold 60,000 shares of the company, marking a 26.19% decrease in his holdings, which are now valued at around $9.48 million.
• Analysts have mixed views on Wayfair's stock, with ratings ranging from sell to strong buy, and an average price target set at $50.85.

Victory Capital Management Inc. decreased its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 93.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,192 shares of the company's stock after selling 169,436 shares during the period. Victory Capital Management Inc.'s holdings in Wayfair were worth $358,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC grew 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 purchasing an additional 381 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Wayfair by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock valued at $3,860,000 after purchasing an additional 383 shares during the last quarter. GAMMA Investing LLC grew its position in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after buying an additional 609 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Wayfair by 5.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock worth $555,000 after buying an additional 690 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Wayfair by 2.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company's stock worth $1,857,000 after buying an additional 920 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 60,000 shares of Wayfair stock in a transaction on Monday, July 21st. The shares were sold at an average price of $56.03, for a total transaction of $3,361,800.00. Following the completion of the sale, the chief executive officer owned 169,137 shares of the company's stock, valued at approximately $9,476,746.11. The trade was a 26.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 13,857 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $56.45, for a total transaction of $782,227.65. Following the completion of the transaction, the insider directly owned 91,263 shares of the company's stock, valued at $5,151,796.35. This trade represents a 13.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 800,204 shares of company stock valued at $40,135,236. Company insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Argus raised Wayfair from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Monday, May 12th. Citigroup lifted their target price on Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reissued a "sector perform" rating and set a $25.00 target price on shares of Wayfair in a research report on Friday, April 25th. The Goldman Sachs Group decreased their target price on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wedbush raised Wayfair to a "hold" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.85.

Wayfair Stock Performance

W opened at $65.23 on Friday. The company has a fifty day moving average price of $52.58 and a two-hundred day moving average price of $42.26. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $68.50. The firm has a market capitalization of $8.37 billion, a PE ratio of -22.89 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm posted ($0.32) EPS. Wayfair's revenue was up .0% on a year-over-year basis. Equities analysts forecast that Wayfair Inc. will post -2.54 EPS for the current 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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