Allspring Global Investments Holdings LLC Buys 94,540 Shares of Wayfair Inc. (NYSE:W)

Allspring Global Investments Holdings LLC raised its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 31.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 398,795 shares of the company's stock after acquiring an additional 94,540 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.34% of Wayfair worth $24,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Captrust Financial Advisors raised its holdings in Wayfair by 24.1% in the second quarter. Captrust Financial Advisors now owns 968 shares of the company's stock worth $42,000 after purchasing an additional 188 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Wayfair by 7.9% during the second quarter. IFP Advisors Inc now owns 2,842 shares of the company's stock valued at $185,000 after acquiring an additional 208 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Wayfair by 4.3% during the third quarter. M&T Bank Corp now owns 5,262 shares of the company's stock valued at $318,000 after acquiring an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Wayfair by 4.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company's stock valued at $409,000 after acquiring an additional 276 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Wayfair by 5.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 5,854 shares of the company's stock valued at $648,000 after acquiring an additional 281 shares in the last quarter. Institutional investors own 89.67% of the company's stock.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $64.58, for a total transaction of $645,800.00. Following the completion of the sale, the chief executive officer now owns 239,137 shares in the company, valued at $15,443,467.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wayfair news, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $64.58, for a total transaction of $645,800.00. Following the transaction, the chief executive officer now owns 239,137 shares of the company's stock, valued at $15,443,467.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kate Gulliver sold 3,696 shares of Wayfair stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.09, for a total value of $233,180.64. Following the transaction, the chief financial officer now directly owns 89,555 shares in the company, valued at approximately $5,650,024.95. The disclosure for this sale can be found here. Insiders sold a total of 85,664 shares of company stock worth $5,194,427 over the last 90 days. 26.81% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on W. Truist Financial cut their price target on shares of Wayfair from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada increased their price target on shares of Wayfair from $55.00 to $62.00 and gave the stock a "sector perform" rating in a report on Friday, February 23rd. Wedbush reiterated an "outperform" rating and issued a $70.00 price target on shares of Wayfair in a report on Friday, February 23rd. Stifel Nicolaus increased their price target on shares of Wayfair from $52.00 to $55.00 and gave the stock a "hold" rating in a report on Tuesday, January 9th. Finally, Evercore ISI upgraded shares of Wayfair from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $65.00 to $80.00 in a report on Thursday, April 4th. Ten investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $77.03.

Wayfair Stock Performance

Shares of W traded down $2.41 during midday trading on Friday, hitting $60.34. The company had a trading volume of 2,688,627 shares, compared to its average volume of 3,439,101. The company's 50-day simple moving average is $59.01 and its 200-day simple moving average is $55.27. The firm has a market capitalization of $7.26 billion, a P/E ratio of -9.25 and a beta of 3.29. Wayfair Inc. has a 1 year low of $29.51 and a 1 year high of $90.71.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Equities analysts predict that Wayfair Inc. will post -3.37 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.