Legal & General Group Plc Sells 36,404 Shares of Wayfair Inc. $W

Legal & General Group Plc trimmed its holdings in Wayfair Inc. (NYSE:W) by 26.1% in the 4th quarter, HoldingsChannel reports. The firm owned 103,043 shares of the company’s stock after selling 36,404 shares during the quarter. Legal & General Group Plc’s holdings in Wayfair were worth $10,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in W. Cornerstone Planning Group LLC grew its holdings in Wayfair by 28,200.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 282 shares in the last quarter. Webster Bank N. A. purchased a new stake in Wayfair during the 4th quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new stake in Wayfair during the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after buying an additional 653 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in Wayfair by 37.7% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after buying an additional 123 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Wayfair

In related news, Director Steven Conine sold 7,139 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.55, for a total transaction of $560,768.45. Following the sale, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. This represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total value of $345,790.10. Following the sale, the insider owned 111,158 shares in the company, valued at $8,024,496.02. The trade was a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 463,785 shares of company stock worth $35,864,224. Company insiders own 18.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on W shares. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, February 20th. The Goldman Sachs Group set a $79.00 price objective on shares of Wayfair in a report on Friday, May 1st. Wells Fargo & Company cut their price objective on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Truist Financial cut their price objective on shares of Wayfair from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $125.00 target price on shares of Wayfair in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average price target of $99.89.

Wayfair Stock Performance

NYSE W opened at $69.45 on Thursday. The company has a market capitalization of $9.17 billion, a P/E ratio of -29.68, a P/E/G ratio of 3.80 and a beta of 3.02. Wayfair Inc. has a one year low of $42.63 and a one year high of $119.98. The stock has a 50 day moving average price of $70.89 and a 200-day moving average price of $86.96.

Wayfair (NYSE:W) last posted its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the company earned $0.10 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Wayfair Inc. will post 0.63 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.