Vontobel Holding Ltd. Trims Stock Position in Wayfair Inc. (NYSE:W)

Vontobel Holding Ltd. cut its stake in Wayfair Inc. (NYSE:W) by 22.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,450 shares of the company’s stock after selling 1,570 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wayfair were worth $306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of W. Renaissance Technologies LLC boosted its position in shares of Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP boosted its holdings in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after buying an additional 432,404 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares during the period. Maverick Capital Ltd. increased its stake in shares of Wayfair by 46.2% in the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Wayfair in the 1st quarter worth about $13,690,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

W has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Loop Capital boosted their target price on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. cut their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wedbush lowered their price target on Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.80.

Wayfair Stock Performance

Shares of NYSE:W opened at $47.89 on Wednesday. Wayfair Inc. has a 52-week low of $38.02 and a 52-week high of $76.18. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -8.93 and a beta of 3.42. The stock’s 50-day simple moving average is $48.62 and its two-hundred day simple moving average is $53.29.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business earned ($1.27) EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Wayfair Inc. will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,891 shares of company stock worth $2,007,213 in the last three months. Corporate insiders own 26.81% of the company’s stock.

Wayfair Company Profile

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.