Virtu Financial LLC Sells 6,530 Shares of Wayfair Inc. (NYSE:W)

Virtu Financial LLC lowered its position in Wayfair Inc. (NYSE:W - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,290 shares of the company's stock after selling 6,530 shares during the period. Virtu Financial LLC's holdings in Wayfair were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in W. LPL Financial LLC lifted its holdings in shares of Wayfair by 218.2% in the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company's stock valued at $1,706,000 after purchasing an additional 26,390 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Wayfair by 148.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,971 shares of the company's stock valued at $752,000 after purchasing an additional 10,152 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Wayfair by 2.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company's stock valued at $1,857,000 after purchasing an additional 920 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Wayfair by 60.1% in the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock valued at $250,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Wayfair by 13.4% in the fourth quarter. Canada Pension Plan Investment Board now owns 134,300 shares of the company's stock valued at $5,952,000 after purchasing an additional 15,900 shares in the last quarter. Institutional investors own 89.67% of the company's stock.

Wayfair Stock Performance

W stock opened at $79.13 on Friday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $79.90. The business's 50 day moving average price is $58.50 and its two-hundred day moving average price is $44.03. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of -32.97 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter last year, the company posted $0.47 EPS. The firm's revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 13,857 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total value of $782,227.65. Following the sale, the insider directly owned 91,263 shares of the company's stock, valued at $5,151,796.35. The trade was a 13.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 17,752 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $77.29, for a total value of $1,372,052.08. Following the completion of the sale, the insider directly owned 143,546 shares in the company, valued at approximately $11,094,670.34. This represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 816,894 shares of company stock valued at $42,702,627 in the last ninety days. 21.91% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on W. Gordon Haskett raised Wayfair from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 4th. BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 price target (up from $38.00) on shares of Wayfair in a research report on Tuesday, August 5th. Morgan Stanley reissued an "overweight" rating and issued a $70.00 target price (up from $50.00) on shares of Wayfair in a research report on Wednesday, July 2nd. Canaccord Genuity Group raised their target price on Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada raised their target price on Wayfair from $25.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.96.

Wayfair Company 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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