Wayfair Inc. $W Position Trimmed by Groupama Asset Managment

Groupama Asset Managment lowered its stake in Wayfair Inc. (NYSE:W) by 60.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 400,000 shares of the company’s stock after selling 600,000 shares during the period. Groupama Asset Managment’s holdings in Wayfair were worth $35,732,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 282 shares during the last quarter. True Wealth Design LLC increased its stake in Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Wayfair by 156.3% during the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Down 3.9%

Shares of W stock opened at $76.78 on Thursday. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $119.98. The business’s 50 day moving average is $92.24 and its two-hundred day moving average is $93.67. The company has a market cap of $10.04 billion, a PE ratio of -31.60, a price-to-earnings-growth ratio of 5.92 and a beta of 3.40.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 19th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.21. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.30 billion. Wayfair had a negative net margin of 2.51% and a negative return on equity of 1.52%. Wayfair’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted ($0.25) EPS. As a group, equities analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 150,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the completion of the transaction, the insider owned 289,073 shares of the company’s stock, valued at approximately $31,471,377.51. The trade was a 34.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 36,497 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $106.50, for a total value of $3,886,930.50. Following the sale, the chief financial officer owned 149,238 shares of the company’s stock, valued at approximately $15,893,847. The trade was a 19.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 890,494 shares of company stock worth $86,493,261. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on W. Citigroup reduced their price target on shares of Wayfair from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Stifel Nicolaus cut their target price on shares of Wayfair from $100.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. JPMorgan Chase & Co. reduced their target price on Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Wall Street Zen cut Wayfair from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Piper Sandler reiterated an “overweight” rating and set a $125.00 price target on shares of Wayfair in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $104.62.

Wayfair Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.