Daiwa Securities Group Inc. Has $666,000 Stock Holdings in Wayfair Inc. (NYSE:W)

Daiwa Securities Group Inc. decreased its stake in Wayfair Inc. (NYSE:W) by 5.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,863 shares of the company’s stock after selling 715 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wayfair were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the period. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after buying an additional 432,404 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Wayfair by 35.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after acquiring an additional 253,681 shares in the last quarter. Maverick Capital Ltd. boosted its position in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Wayfair during the 2nd quarter worth about $8,189,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at approximately $4,491,794.30. The trade was a 10.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 6,055 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the sale, the insider now directly owns 62,817 shares in the company, valued at approximately $3,333,698.19. The trade was a 8.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,868 shares of company stock worth $3,272,548. 26.81% of the stock is currently owned by company insiders.

Wayfair Stock Up 1.8 %

W opened at $46.24 on Friday. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market capitalization of $5.79 billion, a P/E ratio of -10.30 and a beta of 3.46. The stock’s 50 day moving average price is $47.35 and its two-hundred day moving average price is $49.85.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.38) EPS. As a group, analysts anticipate that Wayfair Inc. will post -2.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on W shares. Truist Financial reduced their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada decreased their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Barclays lowered their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Robert W. Baird lowered their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

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.