Swiss National Bank Sells 11,200 Shares of Wayfair Inc. (NYSE:W)

Swiss National Bank cut its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,100 shares of the company's stock after selling 11,200 shares during the period. Swiss National Bank owned approximately 0.14% of Wayfair worth $9,878,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in W. Commonwealth Equity Services LLC increased its position in shares of Wayfair by 5.5% during the third quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company's stock valued at $622,000 after acquiring an additional 537 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Wayfair by 9.3% in the third quarter. Raymond James & Associates now owns 5,730 shares of the company's stock valued at $347,000 after purchasing an additional 486 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Wayfair by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 273,523 shares of the company's stock valued at $16,567,000 after purchasing an additional 7,719 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Wayfair by 3,144.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 304,255 shares of the company's stock valued at $18,429,000 after purchasing an additional 294,877 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Wayfair by 109.2% in the third quarter. Teacher Retirement System of Texas now owns 12,060 shares of the company's stock valued at $730,000 after purchasing an additional 6,295 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the sale, the insider now owns 229,073 shares of the company's stock, valued at $15,636,522.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the sale, the insider now owns 229,073 shares in the company, valued at $15,636,522.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Blotner sold 4,144 shares of Wayfair stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the transaction, the insider now directly owns 37,957 shares of the company's stock, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,664 shares of company stock valued at $5,449,893. 23.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on W. Sanford C. Bernstein boosted their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Wayfair from $63.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. Piper Sandler restated an "overweight" rating and set a $91.00 price objective (up previously from $88.00) on shares of Wayfair in a research report on Friday, May 3rd. Mizuho started coverage on shares of Wayfair in a research report on Tuesday, March 19th. They set a "buy" rating and a $72.00 price objective for the company. Finally, Loop Capital boosted their price objective on shares of Wayfair from $55.00 to $65.00 and gave the stock a "hold" rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.64.

Wayfair Price Performance

W stock traded up $0.69 on Monday, hitting $71.41. 6,030,680 shares of the company were exchanged, compared to its average volume of 4,559,140. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of -13.32 and a beta of 3.32. Wayfair Inc. has a twelve month low of $33.85 and a twelve month high of $90.71. The business's fifty day moving average is $61.38 and its two-hundred day moving average is $56.47.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Equities research analysts expect that Wayfair Inc. will post -3.03 earnings per share for the current year.

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.