Wayfair Inc. (NYSE:W) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Wayfair Inc. (NYSE:W) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,101 shares of the company’s stock after selling 1,021 shares during the period. Principal Financial Group Inc.’s holdings in Wayfair were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Southpoint Capital Advisors LP acquired a new position in Wayfair during the 3rd quarter worth approximately $78,652,000. Holocene Advisors LP lifted its position in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after acquiring an additional 1,213,896 shares in the last quarter. Baillie Gifford & Co. lifted its position in Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after acquiring an additional 740,641 shares in the last quarter. Groupama Asset Managment lifted its position in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Wayfair by 35.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after acquiring an additional 253,681 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Price Performance

NYSE:W opened at $35.05 on Friday. Wayfair Inc. has a 12-month low of $32.50 and a 12-month high of $76.18. The firm has a market capitalization of $4.45 billion, a P/E ratio of -8.72 and a beta of 3.44. The business has a 50 day simple moving average of $44.61 and a 200 day simple moving average of $46.22.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Wayfair in a research report on Friday, February 21st. Bank of America dropped their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Loop Capital dropped their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group dropped their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.69.

Insiders Place Their Bets

In other news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,228 shares of company stock worth $6,235,818. 23.50% of the stock is owned by company insiders.

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.