Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wayfair Inc. (NYSE:W – Free Report) by 670.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 415,706 shares of the company’s stock after acquiring an additional 361,739 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.37% of Wayfair worth $26,252,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Wayfair during the 4th quarter worth $28,044,000. Alyeska Investment Group L.P. bought a new stake in Wayfair in the first quarter valued at about $18,969,000. Wellington Management Group LLP acquired a new stake in Wayfair during the first quarter valued at approximately $13,642,000. Stockbridge Partners LLC grew its position in shares of Wayfair by 49.6% in the 1st quarter. Stockbridge Partners LLC now owns 1,171,862 shares of the company’s stock worth $129,819,000 after acquiring an additional 388,622 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Wayfair in the 1st quarter valued at approximately $37,565,000. Institutional investors and hedge funds own 89.67% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on W. Citigroup lifted their price objective on shares of Wayfair from $88.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Stifel Nicolaus started coverage on Wayfair in a research note on Tuesday, October 17th. They issued a “hold” rating and a $51.00 target price for the company. The Goldman Sachs Group increased their price target on Wayfair from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. Truist Financial boosted their price objective on Wayfair from $56.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Wedbush cut their target price on Wayfair from $80.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Wayfair currently has an average rating of “Hold” and a consensus price target of $74.27.
Wayfair Stock Performance
NYSE W opened at $49.46 on Tuesday. The stock has a market capitalization of $5.83 billion, a P/E ratio of -5.97 and a beta of 3.20. The business’s fifty day moving average is $52.06 and its two-hundred day moving average is $57.24. Wayfair Inc. has a 1 year low of $29.51 and a 1 year high of $90.71.
Insider Transactions at Wayfair
In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $70.37, for a total transaction of $703,700.00. Following the completion of the sale, the chief executive officer now directly owns 309,137 shares of the company’s stock, valued at $21,753,970.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $70.37, for a total value of $703,700.00. Following the completion of the sale, the chief executive officer now owns 309,137 shares of the company’s stock, valued at approximately $21,753,970.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 985 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $69.51, for a total value of $68,467.35. Following the completion of the sale, the chief operating officer now directly owns 105,468 shares of the company’s stock, valued at approximately $7,331,080.68. The disclosure for this sale can be found here. Insiders have sold 65,923 shares of company stock valued at $3,873,864 over the last three months. Company insiders own 26.81% of the company’s stock.
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.
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