Federated Hermes Inc. Reduces Stock Holdings in Wayfair Inc. (NYSE:W)

Federated Hermes Inc. cut its holdings in Wayfair Inc. (NYSE:W - Free Report) by 85.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,721 shares of the company's stock after selling 16,221 shares during the period. Federated Hermes Inc.'s holdings in Wayfair were worth $168,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new position in Wayfair during the fourth quarter worth $29,000. BluePath Capital Management LLC acquired a new position in Wayfair during the third quarter worth $34,000. DekaBank Deutsche Girozentrale acquired a new position in Wayfair during the third quarter worth $34,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Wayfair in the fourth quarter valued at $256,000. Finally, Oak Thistle LLC acquired a new stake in shares of Wayfair in the fourth quarter valued at $266,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Performance

NYSE:W traded up $4.90 during mid-day trading on Monday, reaching $68.49. 7,100,005 shares of the company's stock were exchanged, compared to its average volume of 4,526,497. Wayfair Inc. has a one year low of $33.85 and a one year high of $90.71. The firm has a market capitalization of $8.24 billion, a PE ratio of -12.78 and a beta of 3.32. The business's fifty day simple moving average is $60.24 and its two-hundred day simple moving average is $55.46.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping analysts' consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities research analysts forecast that Wayfair Inc. will post -3.37 EPS for the current year.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 984 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $60.58, for a total transaction of $59,610.72. Following the sale, the chief operating officer now directly owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jon Blotner sold 4,144 shares of the firm's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares in the company, valued at approximately $2,297,157.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Netzer sold 984 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $60.58, for a total transaction of $59,610.72. Following the completion of the sale, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The disclosure for this sale can be found here. Insiders have sold 86,664 shares of company stock worth $5,289,900 over the last ninety days. Corporate insiders own 23.50% of the company's stock.

Wall Street Analysts Forecast Growth

W has been the topic of several research reports. Raymond James raised Wayfair from a "market perform" rating to a "strong-buy" rating and set a $65.00 price objective on the stock in a report on Friday, February 16th. Mizuho initiated coverage on Wayfair in a report on Tuesday, March 19th. They set a "buy" rating and a $72.00 price objective on the stock. Citigroup raised their price objective on Wayfair from $73.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, March 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Wayfair in a report on Thursday. Finally, TD Cowen boosted their price target on Wayfair from $55.00 to $58.00 and gave the company a "hold" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.29.

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.