Wayfair Inc. (NYSE:W) Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Wayfair Inc. (NYSE:W) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,628 shares of the company’s stock after selling 21,991 shares during the period. Victory Capital Management Inc. owned 0.14% of Wayfair worth $8,005,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its position in Wayfair by 18.3% in the third quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock worth $536,000 after buying an additional 1,479 shares during the period. Swiss National Bank grew its stake in shares of Wayfair by 0.7% in the third quarter. Swiss National Bank now owns 178,500 shares of the company’s stock worth $10,028,000 after purchasing an additional 1,200 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Wayfair by 35.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after purchasing an additional 253,681 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Wayfair in the third quarter worth $1,070,000. Finally, Algert Global LLC grew its stake in shares of Wayfair by 83.1% in the third quarter. Algert Global LLC now owns 36,130 shares of the company’s stock worth $2,030,000 after purchasing an additional 16,394 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

W has been the subject of several recent analyst reports. Bank of America decreased their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Stifel Nicolaus decreased their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Canaccord Genuity Group decreased their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Wayfair in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.81.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction on Monday, January 13th. The shares were sold at an average price of $42.83, for a total transaction of $242,803.27. Following the transaction, the insider now owns 57,899 shares in the company, valued at approximately $2,479,814.17. This trade represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock worth $6,235,818 over the last three months. Company insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

Wayfair stock opened at $31.85 on Friday. The stock has a market cap of $4.04 billion, a P/E ratio of -7.92 and a beta of 3.44. Wayfair Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $76.18. The firm’s fifty day moving average price is $43.39 and its 200-day moving average price is $45.84.

Wayfair (NYSE:W) last released its 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 company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. Sell-side analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

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.