American Century Companies Inc. Sells 58,847 Shares of Wayfair Inc. (NYSE:W)

American Century Companies Inc. lowered its position in shares of Wayfair Inc. (NYSE:W) by 22.8% during the second quarter, Holdings Channel.com reports. The firm owned 199,714 shares of the company’s stock after selling 58,847 shares during the quarter. American Century Companies Inc.’s holdings in Wayfair were worth $10,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in W. WealthPlan Investment Management LLC boosted its holdings in Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after purchasing an additional 271 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Wayfair by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after buying an additional 360 shares during the period. QRG Capital Management Inc. grew its position in Wayfair by 12.0% during the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after buying an additional 399 shares in the last quarter. Riverview Trust Co bought a new position in Wayfair during the 1st quarter worth $27,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after acquiring an additional 471 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on W shares. Guggenheim reduced their target price on Wayfair from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Bank of America cut shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $58.00 in a research report on Thursday, August 1st. Piper Sandler reduced their price target on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $65.63.

Wayfair Trading Down 2.7 %

NYSE:W opened at $52.85 on Monday. The stock’s 50-day moving average is $46.48 and its 200-day moving average is $54.80. The stock has a market cap of $6.36 billion, a P/E ratio of -9.86 and a beta of 3.40. Wayfair Inc. has a 1-year low of $38.02 and a 1-year high of $76.18.

Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Wayfair’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.27) earnings per share. As a group, equities analysts forecast that Wayfair Inc. will post -2.66 EPS for the current year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders have sold a total of 41,113 shares of company stock valued at $2,126,623 over the last 90 days. 26.81% of the stock is owned by insiders.

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.