Victory Capital Management Inc. Sells 26,105 Shares of Wayfair Inc. (NYSE:W)

Victory Capital Management Inc. lessened its stake in Wayfair Inc. (NYSE:W) by 11.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,619 shares of the company’s stock after selling 26,105 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of Wayfair worth $11,383,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in Wayfair in the 3rd quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in Wayfair in the 2nd quarter valued at approximately $58,000. Comerica Bank grew its stake in Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair in the 2nd quarter valued at approximately $109,000. Finally, Quarry LP grew its stake in Wayfair by 880.0% in the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after buying an additional 2,288 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Insiders Place Their Bets

In related news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,868 shares of company stock worth $2,003,248 in the last 90 days. 23.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group reduced their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. BMO Capital Markets cut their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Citigroup lowered their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Trading Up 4.0 %

NYSE:W opened at $42.39 on Thursday. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The company has a 50 day simple moving average of $48.02 and a two-hundred day simple moving average of $51.14. The company has a market cap of $5.31 billion, a PE ratio of -9.44 and a beta of 3.46.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the firm earned ($1.38) EPS. The company’s revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Wayfair Inc. will post -2.92 earnings per share for the current year.

Wayfair 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.