Truist Financial Corp Buys 1,101 Shares of Wayfair Inc. (NYSE:W)

Truist Financial Corp lifted its stake in Wayfair Inc. (NYSE:W) by 23.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,702 shares of the company’s stock after buying an additional 1,101 shares during the period. Truist Financial Corp’s holdings in Wayfair were worth $253,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Wayfair in the 3rd quarter valued at $29,000. GAMMA Investing LLC boosted its position in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Wayfair in the third quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in Wayfair in the third quarter worth about $50,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Wayfair during the fourth quarter worth about $48,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the sale, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the completion of the sale, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,228 shares of company stock valued at $7,830,018. Corporate insiders own 23.50% of the company’s stock.

Wayfair Stock Up 2.8 %

W stock opened at $34.59 on Thursday. Wayfair Inc. has a twelve month low of $33.05 and a twelve month high of $76.18. The company has a market cap of $4.39 billion, a P/E ratio of -8.60 and a beta of 3.44. The business’s fifty day moving average is $45.02 and its 200-day moving average is $46.37.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. Research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on W shares. Loop Capital lowered their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Bank of America lowered their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Stifel Nicolaus lowered their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Finally, Canaccord Genuity Group cut their price target on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $58.12.

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.