Fred Alger Management LLC Trims Holdings in Wayfair Inc. (NYSE:W)

Fred Alger Management LLC trimmed its holdings in Wayfair Inc. (NYSE:W - Free Report) by 24.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,004 shares of the company's stock after selling 20,343 shares during the quarter. Fred Alger Management LLC owned approximately 0.05% of Wayfair worth $2,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after acquiring an additional 327,603 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Wayfair during the 4th quarter worth approximately $6,799,000. Sterling Capital Management LLC raised its holdings in shares of Wayfair by 60.1% during the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after acquiring an additional 2,116 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Wayfair by 5.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company's stock worth $1,982,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Wayfair during the 4th quarter worth approximately $229,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Trading Up 21.0%

Shares of W traded up $6.89 during midday trading on Monday, reaching $39.68. 14,510,469 shares of the stock were exchanged, compared to its average volume of 4,706,221. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $76.18. The company's 50 day moving average is $30.74 and its two-hundred day moving average is $40.07. The company has a market capitalization of $5.04 billion, a P/E ratio of -9.87 and a beta of 2.93.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the business earned ($0.32) EPS. Wayfair's revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares in the company, valued at approximately $25,901,852.09. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon Blotner sold 19,257 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the sale, the insider now owns 78,308 shares of the company's stock, valued at approximately $2,480,797.44. This trade represents a 19.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,915 shares of company stock valued at $3,389,028 over the last quarter. 21.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on W shares. Evercore ISI upped their price objective on Wayfair from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Argus upgraded Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Monday. Truist Financial set a $40.00 price target on Wayfair in a report on Friday, May 2nd. UBS Group decreased their price target on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Thirteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.46.

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.