Wayfair Inc. (NYSE:W) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its position in Wayfair Inc. (NYSE:W) by 67.2% in the third quarter, Holdings Channel reports. The firm owned 1,313 shares of the company’s stock after selling 2,690 shares during the quarter. Quest Partners LLC’s holdings in Wayfair were worth $74,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning grew its position in shares of Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after buying an additional 272 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Wayfair in the third quarter valued at approximately $29,000. Optimist Retirement Group LLC grew its holdings in shares of Wayfair by 14.9% during the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after purchasing an additional 568 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Wayfair by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after purchasing an additional 788 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,868 shares of company stock valued at $3,272,548 in the last three months. Corporate insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE:W opened at $46.24 on Friday. The company has a market cap of $5.79 billion, a PE ratio of -10.30 and a beta of 3.46. The firm has a 50 day simple moving average of $47.35 and a 200 day simple moving average of $49.85. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the firm posted ($1.38) earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts predict that Wayfair Inc. will post -2.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on W shares. Wedbush lowered their price target on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Truist Financial dropped their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler reduced their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Finally, StockNews.com cut shares of Wayfair from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.