KBC Group NV Lowers Holdings in Wayfair Inc. $W

KBC Group NV lowered its holdings in Wayfair Inc. (NYSE:W) by 67.1% in the first quarter, HoldingsChannel reports. The firm owned 4,179 shares of the company’s stock after selling 8,520 shares during the quarter. KBC Group NV’s holdings in Wayfair were worth $314,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in W. Swiss National Bank increased its stake in Wayfair by 3.7% during the 1st quarter. Swiss National Bank now owns 203,800 shares of the company’s stock worth $15,328,000 after buying an additional 7,200 shares during the period. California Public Employees Retirement System boosted its position in Wayfair by 23.7% in the 1st quarter. California Public Employees Retirement System now owns 220,448 shares of the company’s stock valued at $16,580,000 after buying an additional 42,286 shares during the period. Bank of New York Mellon Corp boosted its position in Wayfair by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after buying an additional 5,586 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of Wayfair by 42.1% in the first quarter. Illinois Municipal Retirement Fund now owns 54,309 shares of the company’s stock worth $4,085,000 after acquiring an additional 16,077 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Wayfair by 13.6% in the first quarter. Sanctuary Advisors LLC now owns 6,108 shares of the company’s stock worth $459,000 after acquiring an additional 732 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on W shares. The Goldman Sachs Group set a $79.00 price objective on Wayfair in a research report on Friday, May 1st. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Citigroup lowered their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. UBS Group cut their price target on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price target on Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

Wayfair Trading Down 0.2%

Shares of NYSE:W opened at $84.01 on Monday. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The company’s 50 day moving average is $81.25 and its two-hundred day moving average is $82.93. The company has a market cap of $11.09 billion, a PE ratio of -35.90, a P/E/G ratio of 4.66 and a beta of 2.96.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, equities research analysts expect that Wayfair Inc. will post 0.6 EPS for the current year.

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.