Cannell & Spears LLC Sells 12,027 Shares of Wayfair Inc. (NYSE:W)

Cannell & Spears LLC trimmed its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,300 shares of the company's stock after selling 12,027 shares during the quarter. Cannell & Spears LLC's holdings in Wayfair were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new position in Wayfair during the fourth quarter worth $30,735,000. Heartland Advisors Inc. boosted its stake in shares of Wayfair by 57.1% during the 4th quarter. Heartland Advisors Inc. now owns 55,000 shares of the company's stock worth $2,438,000 after acquiring an additional 20,000 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Wayfair by 5.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock valued at $555,000 after acquiring an additional 690 shares during the last quarter. Norges Bank bought a new position in shares of Wayfair in the 4th quarter valued at approximately $31,472,000. Finally, EntryPoint Capital LLC acquired a new stake in Wayfair in the 4th quarter worth approximately $224,000. Institutional investors own 89.67% of the company's stock.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 4,966 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.93, for a total transaction of $223,122.38. Following the completion of the sale, the insider now directly owns 68,089 shares of the company's stock, valued at approximately $3,059,238.77. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,249 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the transaction, the chief technology officer now directly owns 96,557 shares in the company, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,742 shares of company stock worth $6,031,859 in the last 90 days. Corporate insiders own 26.81% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have commented on W. Stifel Nicolaus lowered their price target on Wayfair from $47.00 to $46.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the stock an "overweight" rating in a report on Friday, February 21st. Bank of America decreased their price target on shares of Wayfair from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Guggenheim reiterated a "buy" rating and issued a $60.00 price objective on shares of Wayfair in a research note on Monday, March 10th. Finally, Wedbush reissued a "neutral" rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Fourteen equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.81.

Wayfair Stock Performance

Wayfair stock traded up $1.76 during trading hours on Wednesday, hitting $33.70. 6,463,138 shares of the stock were exchanged, compared to its average volume of 4,328,821. Wayfair Inc. has a 12 month low of $27.91 and a 12 month high of $76.18. The business's 50-day moving average is $40.41 and its two-hundred day moving average is $45.01. The stock has a market capitalization of $4.28 billion, a P/E ratio of -8.38 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.07 billion. On average, equities analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

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.