Allspring Global Investments Holdings LLC Sells 634,226 Shares of Wayfair Inc. (NYSE:W)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 99.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,007 shares of the company's stock after selling 634,226 shares during the period. Allspring Global Investments Holdings LLC's holdings in Wayfair were worth $113,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. ORG Partners LLC acquired a new position in Wayfair in the first quarter valued at approximately $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the second quarter valued at approximately $58,000. Comerica Bank lifted its holdings in Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company's stock valued at $83,000 after buying an additional 829 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company's stock worth $114,000 after purchasing an additional 471 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Wayfair in the second quarter worth $109,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on W. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Wayfair in a report on Friday. Stifel Nicolaus lowered their price objective on shares of Wayfair from $55.00 to $47.00 and set a "hold" rating for the company in a research report on Monday. Barclays lowered their price objective on shares of Wayfair from $58.00 to $51.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. StockNews.com raised shares of Wayfair from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wayfair from $69.00 to $46.00 and set a "buy" rating for the company in a research report on Monday. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.28.

Wayfair Stock Up 5.8 %

Shares of NYSE W traded up $2.44 during midday trading on Tuesday, reaching $44.37. 5,696,501 shares of the stock traded hands, compared to its average volume of 4,366,690. The company's 50 day moving average is $48.64 and its 200 day moving average is $52.26. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter in the previous year, the company posted ($1.38) EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Wayfair Inc. will post -2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Fiona Tan sold 10,040 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares in the company, valued at approximately $4,491,794.30. 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 accessible through this link. Also, insider Jon Blotner sold 4,600 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,471 shares of company stock worth $1,987,002 over the last quarter. Company insiders own 23.50% of the company's stock.

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.