KBC Group NV Decreases Stock Holdings in Wayfair Inc. $W

KBC Group NV reduced its holdings in shares of Wayfair Inc. (NYSE:W) by 98.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,816 shares of the company’s stock after selling 202,093 shares during the quarter. KBC Group NV’s holdings in Wayfair were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of W. Parallel Advisors LLC raised its holdings in Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after acquiring an additional 1,097 shares during the period. IFP Advisors Inc grew its position in shares of Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after purchasing an additional 617 shares in the last quarter. GFG Capital LLC bought a new stake in shares of Wayfair during the 2nd quarter valued at $102,000. Caitong International Asset Management Co. Ltd lifted its holdings in Wayfair by 15,266.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company’s stock worth $148,000 after purchasing an additional 4,580 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Wayfair in the 1st quarter worth about $215,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Stock Performance

Wayfair stock opened at $97.49 on Friday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $114.92. The stock has a market cap of $12.71 billion, a P/E ratio of -38.08 and a beta of 3.03. The firm’s fifty day moving average price is $91.06 and its 200-day moving average price is $69.38.

Wayfair (NYSE:W) last released its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company earned $0.22 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 120,000 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the transaction, the insider directly owned 169,073 shares of the company’s stock, valued at approximately $13,892,728.41. This trade represents a 41.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Fiona Tan sold 6,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total value of $638,127.38. Following the completion of the sale, the chief technology officer owned 198,860 shares of the company’s stock, valued at $19,993,384.40. The trade was a 3.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 655,959 shares of company stock valued at $56,485,774 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on W shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research report on Wednesday, October 8th. Guggenheim boosted their price objective on shares of Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Stifel Nicolaus set a $100.00 target price on shares of Wayfair in a research note on Wednesday, October 29th. Evercore ISI raised their price target on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Barclays upped their price target on shares of Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.57.

Wayfair 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.