Wayfair Inc. (NYSE:W) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of Wayfair Inc. (NYSE:W) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,596 shares of the company’s stock after selling 366 shares during the quarter. M&T Bank Corp’s holdings in Wayfair were worth $204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of W. Oppenheimer & Co. Inc. grew its stake in Wayfair by 18.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock worth $536,000 after purchasing an additional 1,479 shares in the last quarter. Swiss National Bank increased its holdings in shares of Wayfair by 0.7% in the 3rd quarter. Swiss National Bank now owns 178,500 shares of the company’s stock valued at $10,028,000 after acquiring an additional 1,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Wayfair by 35.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after acquiring an additional 253,681 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Wayfair in the 3rd quarter valued at about $1,070,000. Finally, Algert Global LLC increased its holdings in shares of Wayfair by 83.1% in the 3rd quarter. Algert Global LLC now owns 36,130 shares of the company’s stock valued at $2,030,000 after acquiring an additional 16,394 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Up 2.7 %

Shares of W stock opened at $31.85 on Friday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of -7.92 and a beta of 3.44. The stock has a 50 day simple moving average of $43.39 and a 200-day simple moving average of $45.86. Wayfair Inc. has a 12-month low of $31.00 and a 12-month high of $76.18.

Wayfair (NYSE:W) last issued its earnings results 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 firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on W shares. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Raymond James set a $60.00 target price on Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Wayfair in a research report on Friday, February 21st. Piper Sandler set a $58.00 target price on Wayfair and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 5,974 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the transaction, the chief financial officer now directly owns 129,964 shares of the company’s stock, valued at $5,841,881.80. This trade represents a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $45.75, for a total value of $1,372,500.00. Following the transaction, the insider now directly owns 602,573 shares of the company’s stock, valued at $27,567,714.75. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock valued at $6,235,818 in the last ninety days. 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.