Vestcor Inc Has $2.16 Million Stock Holdings in Wayfair Inc. (NYSE:W)

Vestcor Inc reduced its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 56.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,400 shares of the company's stock after selling 49,200 shares during the period. Vestcor Inc's holdings in Wayfair were worth $2,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tabor Asset Management LP grew its holdings in shares of Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company's stock worth $8,813,000 after purchasing an additional 15,932 shares during the last quarter. Groupama Asset Managment grew its holdings in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company's stock worth $56,180,000 after acquiring an additional 500,000 shares during the last quarter. Highland Peak Capital LLC bought a new stake in Wayfair during the 2nd quarter worth about $5,165,000. Sei Investments Co. raised its stake in shares of Wayfair by 32.8% in the second quarter. Sei Investments Co. now owns 133,415 shares of the company's stock worth $7,035,000 after acquiring an additional 32,968 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Wayfair in the third quarter worth about $1,070,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on W. Truist Financial reduced their target price on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Mizuho reduced their price objective on shares of Wayfair from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wayfair from $69.00 to $46.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Piper Sandler reduced their price target on Wayfair from $67.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Finally, Wedbush dropped their price objective on Wayfair from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and an average price target of $60.28.

Wayfair Trading Up 0.4 %

Shares of NYSE:W traded up $0.24 on Wednesday, hitting $54.93. The company had a trading volume of 3,058,462 shares, compared to its average volume of 4,416,020. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -12.23 and a beta of 3.44. The stock has a 50 day moving average price of $46.98 and a 200 day moving average price of $49.09. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) EPS. Sell-side analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares of the company's stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,868 shares of company stock worth $4,866,748 in the last quarter. Corporate insiders own 23.50% of the company's stock.

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.