Wayfair Inc. (NYSE:W) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in shares of Wayfair Inc. (NYSE:W) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,578 shares of the company’s stock after selling 4,244 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wayfair were worth $663,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Wayfair by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock valued at $41,595,000 after acquiring an additional 39,545 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Wayfair by 3.8% in the fourth quarter. Teacher Retirement System of Texas now owns 12,514 shares of the company’s stock valued at $772,000 after buying an additional 454 shares during the last quarter. QRG Capital Management Inc. bought a new position in Wayfair during the 4th quarter worth approximately $205,000. Norges Bank acquired a new position in shares of Wayfair in the 4th quarter worth approximately $47,374,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Wayfair in the 4th quarter valued at approximately $74,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of W opened at $48.03 on Tuesday. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18. The stock has a market capitalization of $5.93 billion, a P/E ratio of -8.96 and a beta of 3.40. The firm’s 50 day moving average is $46.68 and its 200-day moving average is $55.03.

Wayfair (NYSE:W) last issued its quarterly 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.27) EPS. As a group, equities research analysts forecast that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $52.62, for a total value of $526,200.00. Following the completion of the sale, the chief executive officer now owns 209,137 shares in the company, valued at approximately $11,004,788.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Blotner sold 4,395 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The disclosure for this sale can be found here. Insiders have sold a total of 40,102 shares of company stock worth $2,076,659 over the last three months. Corporate insiders own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Guggenheim cut their target price on shares of Wayfair from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Truist Financial lowered their target price on Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Wedbush cut their price target on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $65.63.

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.