Wayfair Inc. (NYSE:W) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Wayfair Inc. (NYSE:W) by 61.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 308,594 shares of the company’s stock after selling 492,776 shares during the period. Bank of New York Mellon Corp’s holdings in Wayfair were worth $13,677,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair in the third quarter worth $44,000. Venturi Wealth Management LLC bought a new stake in Wayfair during the fourth quarter valued at $45,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wayfair during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group bought a new position in shares of Wayfair in the 3rd quarter worth about $50,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on W shares. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Wayfair in a report on Friday, February 21st. Wedbush restated a “neutral” rating and set a $46.00 price objective (up from $44.00) on shares of Wayfair in a research note on Friday, February 21st. BMO Capital Markets raised their target price on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, February 21st. Truist Financial lowered their price target on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $56.81.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 1,039 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the transaction, the chief technology officer now directly owns 96,557 shares in the company, valued at $4,336,374.87. The trade was a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,228 shares of company stock worth $6,235,818. 26.81% of the stock is owned by corporate insiders.

Wayfair Stock Down 2.4 %

Shares of Wayfair stock opened at $33.25 on Thursday. Wayfair Inc. has a 12-month low of $32.41 and a 12-month high of $76.18. The firm has a market capitalization of $4.22 billion, a PE ratio of -8.27 and a beta of 3.44. The stock’s fifty day moving average is $43.96 and its 200-day moving average is $46.03.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. Analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

About Wayfair

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.