ProShare Advisors LLC Sells 6,358 Shares of Wayfair Inc. (NYSE:W)

ProShare Advisors LLC trimmed its holdings in shares of Wayfair Inc. (NYSE:W) by 7.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,719 shares of the company’s stock after selling 6,358 shares during the quarter. ProShare Advisors LLC owned 0.06% of Wayfair worth $3,940,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Wayfair in the 1st quarter valued at about $27,000. ORG Partners LLC acquired a new stake in Wayfair in the 1st quarter valued at approximately $37,000. International Assets Investment Management LLC bought a new stake in Wayfair in the 2nd quarter valued at approximately $58,000. Comerica Bank boosted its position in Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after acquiring an additional 471 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Citigroup reduced their price objective on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Loop Capital lifted their target price on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday. Guggenheim reissued a “buy” rating and set a $70.00 price target on shares of Wayfair in a research report on Thursday. Finally, Barclays lowered their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $52.62, for a total value of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares of the company’s stock, valued at $11,004,788.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $52.62, for a total value of $526,200.00. Following the completion of the transaction, the chief executive officer now directly owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a filing 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 dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. The disclosure for this sale can be found here. Insiders have sold 41,113 shares of company stock valued at $2,126,623 over the last three months. 26.81% of the stock is owned by insiders.

Wayfair Price Performance

Shares of NYSE W opened at $54.15 on Friday. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of -10.10 and a beta of 3.40. The stock’s fifty day moving average price is $46.36 and its two-hundred day moving average price is $54.68.

Wayfair (NYSE:W) last released its 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 analysts’ expectations of $3.18 billion. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm posted ($1.27) EPS. On average, equities analysts anticipate that Wayfair Inc. will post -2.66 earnings per share for the current fiscal 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.