Wayfair Inc. $W Shares Sold by KBC Group NV

KBC Group NV cut its stake in Wayfair Inc. (NYSE:W) by 67.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,179 shares of the company’s stock after selling 8,520 shares during the quarter. KBC Group NV’s holdings in Wayfair were worth $314,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Swiss National Bank increased its position in Wayfair by 3.7% during the first quarter. Swiss National Bank now owns 203,800 shares of the company’s stock worth $15,328,000 after purchasing an additional 7,200 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Wayfair by 23.7% in the 1st quarter. California Public Employees Retirement System now owns 220,448 shares of the company’s stock valued at $16,580,000 after purchasing an additional 42,286 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Wayfair by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after buying an additional 5,586 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of Wayfair by 42.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 54,309 shares of the company’s stock valued at $4,085,000 after buying an additional 16,077 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in shares of Wayfair by 13.6% during the 1st quarter. Sanctuary Advisors LLC now owns 6,108 shares of the company’s stock worth $459,000 after buying an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares of the company’s stock, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

W has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Truist Financial set a $99.00 target price on Wayfair in a research note on Monday, June 8th. The Goldman Sachs Group set a $79.00 target price on Wayfair in a research report on Friday, May 1st. Needham & Company LLC decreased their price target on Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Morgan Stanley set a $110.00 price target on Wayfair in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.36.

Wayfair Stock Performance

Shares of W stock opened at $84.01 on Monday. The firm’s 50 day moving average price is $81.25 and its 200-day moving average price is $82.93. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98. The firm has a market cap of $11.09 billion, a P/E ratio of -35.90, a P/E/G ratio of 4.66 and a beta of 2.96.

Wayfair (NYSE:W) last posted its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. As a group, research analysts predict that Wayfair Inc. will post 0.6 EPS for the current fiscal year.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.