abrdn plc Sells 304 Shares of Wayfair Inc. (NYSE:W)

abrdn plc lowered its stake in shares of Wayfair Inc. (NYSE:W – Get Rating) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,812 shares of the company’s stock after selling 304 shares during the period. abrdn plc’s holdings in Wayfair were worth $800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in W. Allspring Global Investments Holdings LLC bought a new stake in shares of Wayfair during the 4th quarter worth approximately $3,314,000. Illinois Municipal Retirement Fund increased its holdings in shares of Wayfair by 26.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 7,351 shares of the company’s stock worth $1,396,000 after acquiring an additional 1,515 shares during the last quarter. Yousif Capital Management LLC acquired a new position in shares of Wayfair during the 4th quarter worth approximately $203,000. CWM LLC acquired a new position in shares of Wayfair during the 4th quarter worth approximately $55,000. Finally, Equitable Trust Co. increased its holdings in shares of Wayfair by 96.4% during the 4th quarter. Equitable Trust Co. now owns 2,749 shares of the company’s stock worth $523,000 after acquiring an additional 1,349 shares during the last quarter. Institutional investors own 85.89% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steve Oblak sold 1,283 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $53.98, for a total value of $69,256.34. Following the completion of the sale, the insider now owns 158,769 shares of the company’s stock, valued at $8,570,350.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Michael D. Fleisher sold 5,874 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $53.99, for a total value of $317,137.26. Following the transaction, the chief financial officer now owns 66,664 shares in the company, valued at $3,599,189.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Oblak sold 1,283 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $53.98, for a total value of $69,256.34. Following the completion of the transaction, the insider now owns 158,769 shares in the company, valued at approximately $8,570,350.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,944 shares of company stock valued at $864,383. Company insiders own 27.04% of the company’s stock.

Wayfair Price Performance

NYSE W opened at $57.45 on Wednesday. The business has a 50 day simple moving average of $52.39 and a 200 day simple moving average of $91.88. Wayfair Inc. has a one year low of $43.31 and a one year high of $317.45. The stock has a market capitalization of $6.05 billion, a P/E ratio of -12.57 and a beta of 2.92.

Wayfair (NYSE:W – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($2.59) by ($0.44). The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was down 13.7% on a year-over-year basis. Equities analysts expect that Wayfair Inc. will post -11.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Wayfair from $90.00 to $70.00 in a report on Friday, May 6th. StockNews.com raised Wayfair to a “sell” rating in a report on Tuesday, May 17th. JPMorgan Chase & Co. decreased their price objective on Wayfair from $108.00 to $70.00 and set an “underweight” rating on the stock in a report on Tuesday, April 26th. Canaccord Genuity Group decreased their price objective on Wayfair from $145.00 to $120.00 in a report on Friday, May 6th. Finally, William Blair initiated coverage on Wayfair in a report on Tuesday. They issued an “outperform” rating on the stock. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.96.

Wayfair Company Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.