Mirae Asset Global Investments Co. Ltd. Cuts Stake in Wayfair Inc. (NYSE:W)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Wayfair Inc. (NYSE:W) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,523 shares of the company’s stock after selling 853 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wayfair were worth $9,168,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC raised its stake in shares of Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after buying an additional 271 shares during the period. Creative Planning raised its stake in Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after acquiring an additional 272 shares during the period. QRG Capital Management Inc. lifted its holdings in Wayfair by 12.0% during the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after purchasing an additional 399 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Wayfair by 39.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares during the period. Finally, ORG Partners LLC bought a new position in Wayfair during the first quarter worth about $37,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Barclays reduced their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Piper Sandler dropped their price objective on Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.20.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,891 shares of company stock worth $2,007,213 over the last three months. Company insiders own 26.81% of the company’s stock.

Wayfair Price Performance

Shares of W opened at $44.39 on Monday. Wayfair Inc. has a 1 year low of $38.02 and a 1 year high of $76.18. The stock has a 50 day simple moving average of $48.77 and a two-hundred day simple moving average of $52.95. The firm has a market cap of $5.34 billion, a P/E ratio of -8.28 and a beta of 3.42.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned ($1.27) earnings per share. On average, equities analysts anticipate that Wayfair Inc. will post -2.68 earnings per share for the current year.

About Wayfair

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.