Victory Capital Management Inc. Trims Holdings in Wayfair Inc. (NYSE:W)

Victory Capital Management Inc. lowered its holdings in Wayfair Inc. (NYSE:W - Free Report) by 10.9% during the 4th 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 approximately 0.14% of Wayfair worth $8,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tabor Asset Management LP raised its position in shares of Wayfair by 11.3% in the third 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 Wayfair by 100.0% during the third 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 in the last quarter. Assenagon Asset Management S.A. purchased a new position in Wayfair during the fourth quarter valued at approximately $6,799,000. Wellington Management Group LLP grew its stake in Wayfair by 22.4% during the third 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 in the last quarter. Finally, Cerity Partners LLC purchased a new position in Wayfair during the third quarter valued at approximately $1,070,000. Institutional investors own 89.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a research note on Monday, February 24th. Canaccord Genuity Group reduced their price objective on shares of Wayfair from $76.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the company an "overweight" rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Finally, Stifel Nicolaus cut their price target on shares of Wayfair from $47.00 to $46.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Fourteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Wayfair currently has a consensus rating of "Moderate Buy" and an average price target of $56.81.

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Wayfair Stock Performance

NYSE:W traded down $1.99 during midday trading on Tuesday, reaching $30.11. 4,801,219 shares of the stock traded hands, compared to its average volume of 4,198,619. The company has a fifty day moving average of $43.06 and a 200 day moving average of $45.81. Wayfair Inc. has a 12 month low of $29.69 and a 12 month high of $76.18. The stock has a market capitalization of $3.82 billion, a P/E ratio of -7.49 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) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 7,581 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $47.17, for a total value of $357,595.77. Following the completion of the transaction, the chief technology officer now directly owns 88,976 shares in the company, valued at approximately $4,196,997.92. This represents a 7.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the completion of the transaction, the insider now owns 602,573 shares of the company's stock, valued at $27,567,714.75. This trade represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,189 shares of company stock worth $6,183,193 in the last three months. 26.81% of the stock is owned by insiders.

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.