Wayfair Inc. (NYSE:W) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 88.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,330 shares of the company's stock after selling 32,567 shares during the quarter. Picton Mahoney Asset Management's holdings in Wayfair were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Tabor Asset Management LP grew its stake in shares of Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company's stock valued at $8,813,000 after purchasing an additional 15,932 shares during the period. Groupama Asset Managment grew its stake in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company's stock valued at $56,180,000 after acquiring an additional 500,000 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Wayfair during the 4th quarter valued at approximately $6,799,000. Wellington Management Group LLP grew its stake in shares of Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company's stock valued at $61,676,000 after acquiring an additional 201,157 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Wayfair during the 3rd quarter valued at approximately $1,070,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares in the company, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kate Gulliver sold 5,974 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the sale, the chief financial officer now owns 129,964 shares of the company's stock, valued at approximately $5,841,881.80. This trade represents a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,189 shares of company stock valued at $6,183,193. 26.81% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

W has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Wayfair from a "hold" rating to a "buy" rating and boosted their price objective for the company from $45.00 to $47.00 in a research note on Friday, March 7th. Piper Sandler set a $58.00 price target on Wayfair and gave the stock an "overweight" rating in a report on Friday, February 21st. Truist Financial lowered their price target on Wayfair from $55.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. lowered their price target on Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Wedbush reissued a "neutral" rating and issued a $46.00 price target (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. 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 stock. Based on data from MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and a consensus target price of $56.81.

Wayfair Trading Down 0.5 %

Shares of W traded down $0.17 during midday trading on Thursday, reaching $31.52. 5,006,643 shares of the stock were exchanged, compared to its average volume of 4,207,505. Wayfair Inc. has a 52 week low of $29.68 and a 52 week high of $76.18. The company's 50 day moving average is $42.47 and its two-hundred day moving average is $45.63. The company has a market capitalization of $4.00 billion, a P/E ratio of -7.84 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly 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, sell-side analysts expect that Wayfair Inc. will post -2.54 EPS for the current 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.