Mirae Asset Global Investments Co. Ltd. raised its position in Wayfair Inc. (NYSE:W – Free Report) by 670.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of Wayfair by 16.9% during the first quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock worth $259,000 after acquiring an additional 342 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Wayfair in the 1st quarter valued at approximately $378,000. Panagora Asset Management Inc. boosted its stake in shares of Wayfair by 42.7% during the 1st quarter. Panagora Asset Management Inc. now owns 2,204 shares of the company’s stock valued at $244,000 after buying an additional 659 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Wayfair by 51.6% during the first quarter. Vontobel Holding Ltd. now owns 12,740 shares of the company’s stock worth $1,548,000 after buying an additional 4,338 shares in the last quarter. Finally, Aviva PLC increased its stake in shares of Wayfair by 1.5% in the first quarter. Aviva PLC now owns 23,470 shares of the company’s stock worth $2,600,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.
Insider Buying and Selling
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 value 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 approximately $21,753,970.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jon Blotner sold 3,628 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $50.00, for a total transaction of $181,400.00. Following the completion of the sale, the insider now directly owns 24,417 shares of the company’s stock, valued at $1,220,850. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $70.37, for a total transaction of $703,700.00. Following the completion of the transaction, the chief executive officer now owns 309,137 shares of the company’s stock, valued at $21,753,970.69. The disclosure for this sale can be found here. Insiders have sold a total of 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 Stock Performance
Analyst Ratings Changes
A number of research firms have commented on W. Barclays increased their price objective on shares of Wayfair from $40.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. TD Cowen upped their price objective on Wayfair from $60.00 to $78.00 and gave the company a “market perform” rating in a research note on Friday, August 4th. Sanford C. Bernstein upgraded Wayfair from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $60.00 to $65.00 in a research report on Friday, September 22nd. Wedbush dropped their price target on Wayfair from $80.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Wayfair in a report on Thursday, November 16th. They issued a “buy” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Wayfair currently has an average rating of “Hold” and an average price target of $74.27.
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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