Mirae Asset Global Investments Co. Ltd. Sells 272 Shares of Wayfair Inc. (NYSE:W)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Wayfair Inc. (NYSE:W) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,755 shares of the company’s stock after selling 272 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Wayfair were worth $2,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of W. Vanguard Group Inc. increased its position in shares of Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares in the last quarter. Capital World Investors increased its position in shares of Wayfair by 2.8% during the first quarter. Capital World Investors now owns 3,681,729 shares of the company’s stock worth $407,862,000 after acquiring an additional 100,946 shares in the last quarter. Spruce House Investment Management LLC increased its position in shares of Wayfair by 4.3% during the fourth quarter. Spruce House Investment Management LLC now owns 3,650,000 shares of the company’s stock worth $120,048,000 after acquiring an additional 150,000 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. increased its position in shares of Wayfair by 9.1% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock worth $381,085,000 after acquiring an additional 285,729 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Wayfair by 30.3% during the first quarter. Two Sigma Investments LP now owns 1,291,717 shares of the company’s stock worth $44,358,000 after acquiring an additional 300,645 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

W has been the subject of several recent research reports. Barclays reduced their target price on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, January 4th. Raymond James upgraded shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price for the company in a report on Friday, February 16th. Piper Sandler restated an “overweight” rating and set a $88.00 target price (down previously from $93.00) on shares of Wayfair in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Truist Financial cut their price target on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.03.

Wayfair Trading Down 1.1 %

NYSE:W opened at $54.74 on Thursday. Wayfair Inc. has a one year low of $29.51 and a one year high of $90.71. The firm’s 50 day simple moving average is $59.35 and its 200 day simple moving average is $55.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts expect that Wayfair Inc. will post -3.37 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now owns 32,118 shares in the company, valued at approximately $1,616,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the sale, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of Wayfair stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,808 shares of company stock worth $5,445,222. Company insiders own 26.81% of the company’s stock.

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.