Mitsubishi UFJ Trust & Banking Corp lowered its stake in Wayfair Inc. (NYSE:W) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,120 shares of the company’s stock after selling 6,917 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.21% of Wayfair worth $67,346,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in Wayfair by 11.0% during the 1st quarter. Baillie Gifford & Co. now owns 8,534,258 shares of the company’s stock valued at $2,686,158,000 after purchasing an additional 848,531 shares during the period. Artisan Partners Limited Partnership raised its stake in Wayfair by 118.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 940,965 shares of the company’s stock valued at $296,169,000 after purchasing an additional 510,578 shares during the period. Norges Bank acquired a new stake in Wayfair during the 4th quarter valued at $146,328,000. Renaissance Technologies LLC raised its stake in Wayfair by 36.9% during the 4th quarter. Renaissance Technologies LLC now owns 629,900 shares of the company’s stock valued at $142,238,000 after purchasing an additional 169,800 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Wayfair by 172.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 617,531 shares of the company’s stock valued at $139,445,000 after purchasing an additional 390,645 shares during the period. 83.13% of the stock is currently owned by institutional investors.
In other Wayfair news, CFO Michael D. Fleisher sold 750 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $336.37, for a total transaction of $252,277.50. Following the sale, the chief financial officer now directly owns 96,496 shares of the company’s stock, valued at $32,458,359.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas Netzer sold 161 shares of the company’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $306.58, for a total transaction of $49,359.38. Following the sale, the chief operating officer now directly owns 19,498 shares in the company, valued at $5,977,696.84. The disclosure for this sale can be found here. Insiders have sold 23,015 shares of company stock worth $6,912,271 over the last ninety days. Insiders own 27.53% of the company’s stock.
Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 6th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $1.69. Wayfair had a net margin of 3.20% and a negative return on equity of 45.45%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the business posted ($2.30) earnings per share. The company’s quarterly revenue was up 49.2% compared to the same quarter last year. On average, research analysts forecast that Wayfair Inc. will post 1.69 earnings per share for the current year.
Several equities analysts have recently commented on the stock. Truist upgraded shares of Wayfair from a “hold” rating to a “buy” rating and boosted their price target for the company from $315.00 to $370.00 in a report on Monday, March 1st. Piper Sandler boosted their price target on shares of Wayfair from $370.00 to $420.00 and gave the company an “overweight” rating in a report on Friday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wayfair from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, February 26th. DA Davidson boosted their price target on shares of Wayfair from $325.00 to $450.00 in a report on Wednesday, March 31st. Finally, Zacks Investment Research cut shares of Wayfair from a “hold” rating to a “strong sell” rating and set a $262.00 price objective for the company. in a report on Tuesday, April 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Wayfair currently has a consensus rating of “Hold” and a consensus target price of $315.52.
Wayfair Inc engages in the e-commerce business in the United States and internationally. It provides approximately twenty-two million products for the home sector under various brands. The company offers online selections of furniture, dÃ©cor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.
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