Algert Global LLC Has $1.04 Million Stock Position in Wayfair Inc. (NYSE:W)

Algert Global LLC cut its holdings in shares of Wayfair Inc. (NYSE:W) by 44.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,736 shares of the company’s stock after selling 15,874 shares during the quarter. Algert Global LLC’s holdings in Wayfair were worth $1,041,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in Wayfair by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock worth $948,000 after buying an additional 1,355 shares in the last quarter. Maverick Capital Ltd. grew its stake in Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after purchasing an additional 227,908 shares in the last quarter. Armistice Capital LLC acquired a new position in Wayfair in the 2nd quarter worth about $4,904,000. Caxton Associates LP raised its stake in shares of Wayfair by 337.4% during the 2nd quarter. Caxton Associates LP now owns 75,000 shares of the company’s stock worth $3,955,000 after purchasing an additional 57,852 shares in the last quarter. Finally, Fred Alger Management LLC lifted its holdings in shares of Wayfair by 14.8% during the 2nd quarter. Fred Alger Management LLC now owns 86,425 shares of the company’s stock valued at $4,557,000 after buying an additional 11,125 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the completion of the sale, the insider now directly owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,686 shares of company stock valued at $2,533,368 in the last three months. Corporate insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

W has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Loop Capital lifted their price objective on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lowered their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Gordon Haskett cut 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, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.83.

Wayfair Stock Up 6.5 %

NYSE:W opened at $55.83 on Friday. The firm has a market capitalization of $6.89 billion, a PE ratio of -10.42 and a beta of 3.42. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a 50-day moving average price of $46.85 and a 200 day moving average price of $54.39.

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