Corient Private Wealth LLC Sells 4,264 Shares of Wayfair Inc. (NYSE:W)

Corient Private Wealth LLC reduced its position in Wayfair Inc. (NYSE:W) by 28.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,887 shares of the company’s stock after selling 4,264 shares during the period. Corient Private Wealth LLC’s holdings in Wayfair were worth $483,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of W. Baillie Gifford & Co. increased its holdings in Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after purchasing an additional 740,641 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Wayfair by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after buying an additional 35,268 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in Wayfair during the third quarter worth $78,652,000. Holocene Advisors LP raised its position in Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after buying an additional 1,213,896 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after acquiring an additional 201,157 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the sale, the insider now owns 589,073 shares in the company, valued at approximately $28,540,586.85. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,189 shares of company stock worth $4,810,693 over the last ninety days. 26.81% of the stock is owned by corporate insiders.

Wayfair Trading Down 5.0 %

Shares of Wayfair stock opened at $33.84 on Friday. The company’s 50-day moving average price is $41.29 and its 200-day moving average price is $45.28. Wayfair Inc. has a 12-month low of $29.68 and a 12-month high of $76.18. The company has a market cap of $4.29 billion, a price-to-earnings ratio of -8.42 and a beta of 3.44.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. On average, sell-side analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on W. JPMorgan Chase & Co. dropped their price target on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Monday, March 10th. Canaccord Genuity Group decreased their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Wedbush reissued a “neutral” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $56.81.

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.