SG Americas Securities LLC Trims Stock Position in Wayfair Inc. (NYSE:W)

SG Americas Securities LLC cut its holdings in Wayfair Inc. (NYSE:W) by 51.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,336 shares of the company’s stock after selling 3,524 shares during the period. SG Americas Securities LLC’s holdings in Wayfair were worth $187,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Wayfair by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after buying an additional 273,652 shares during the period. RFG Advisory LLC acquired a new position in shares of Wayfair in the 1st quarter worth approximately $283,000. Riverview Trust Co acquired a new position in shares of Wayfair in the 1st quarter worth approximately $27,000. Diversified Trust Co purchased a new position in shares of Wayfair during the 1st quarter worth approximately $231,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Wayfair by 29.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,441 shares of the company’s stock valued at $34,920,000 after purchasing an additional 115,646 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Trading Down 3.1 %

Wayfair stock opened at $46.42 on Thursday. The stock has a 50 day moving average of $48.75 and a two-hundred day moving average of $53.25. Wayfair Inc. has a twelve month low of $38.02 and a twelve month high of $76.18. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -8.66 and a beta of 3.42.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the firm posted ($1.27) EPS. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts predict that Wayfair Inc. will post -2.68 earnings per share for the current year.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kate Gulliver sold 7,330 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction 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 transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents 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 valued at $2,007,213 in the last three months. 26.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

W has been the subject of several research reports. Piper Sandler dropped their target price on Wayfair from $91.00 to $67.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Truist Financial reduced their target price on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada dropped their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research note 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 investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $65.20.

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.