ING Groep NV Acquires Shares of 55,400 Wayfair Inc. $W

ING Groep NV acquired a new position in Wayfair Inc. (NYSE:W) in the third quarter, Holdings Channel reports. The institutional investor acquired 55,400 shares of the company’s stock, valued at approximately $4,949,000.

Other hedge funds have also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft bought a new position in shares of Wayfair in the 3rd quarter valued at about $1,107,000. Bryce Point Capital LLC purchased a new stake in Wayfair during the third quarter valued at approximately $739,000. Savant Capital LLC raised its position in Wayfair by 82.8% during the third quarter. Savant Capital LLC now owns 22,091 shares of the company’s stock valued at $1,973,000 after purchasing an additional 10,005 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Wayfair by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,246 shares of the company’s stock valued at $1,719,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the completion of the sale, the insider owned 289,073 shares of the company’s stock, valued at approximately $31,471,377.51. The trade was a 34.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 4,997 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $105.84, for a total value of $528,882.48. Following the completion of the transaction, the insider directly owned 106,107 shares in the company, valued at approximately $11,230,364.88. This trade represents a 4.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 950,494 shares of company stock worth $100,127,813 over the last 90 days. Corporate insiders own 21.91% of the company’s stock.

Wayfair Trading Down 6.3%

Shares of W opened at $82.48 on Friday. The firm has a fifty day moving average price of $103.08 and a 200-day moving average price of $92.83. The firm has a market capitalization of $10.75 billion, a P/E ratio of -32.22, a P/E/G ratio of 8.41 and a beta of 3.36. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $119.98.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Broad media coverage of Wayfair’s Presidents Day promotions and deep discounts could drive short-term site traffic and sales, supporting revenue ahead of the quarter. Martha Stewart’s and Joanna Gaines’ Washable Wayfair Rugs Are on Sale Today — Shop Our Top Picks for Up to 76% Off
• Neutral Sentiment: Wayfair is scheduled to report quarterly results next week; the market is positioning ahead of the print, so near-term volatility may persist as investors await concrete top-/bottom-line numbers. Wayfair (W) Expected to Announce Quarterly Earnings on Thursday
• Neutral Sentiment: Technical and volume context: volume is running above average and the stock sits below its 50-day moving average (50?day: $103.08; 200?day: $92.83), signaling near-term weakness that could amplify moves ahead of the report. (Background: market data)
• Negative Sentiment: Analyst preview from Zacks says Wayfair “doesn’t possess the right combination” of the factors that typically lead to an earnings beat, lowering expectations for a positive surprise and adding downside risk to the share price into the print. Wayfair (W) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Widespread steep markdowns (clearance and heavy discounts across brand lines) that drive headlines may boost unit demand but can erode gross margins if sustained; investors will watch the company’s commentary on margin mix and fulfillment costs in the quarter. Wayfair is selling a $789 vintage-style mid-century modern sofa for $210

Analyst Ratings Changes

W has been the topic of several recent research reports. Guggenheim increased their price target on Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Needham & Company LLC boosted their price objective on shares of Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating on shares of Wayfair in a report on Friday, November 21st. Stifel Nicolaus set a $100.00 price target on shares of Wayfair in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.21.

About Wayfair

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.