Legal & General Group Plc Decreases Holdings in Wayfair Inc. (NYSE:W)

Legal & General Group Plc decreased its position in Wayfair Inc. (NYSE:W) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,681 shares of the company’s stock after selling 9,659 shares during the period. Legal & General Group Plc’s holdings in Wayfair were worth $6,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after buying an additional 327,603 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Wayfair during the 4th quarter valued at $6,799,000. Nisa Investment Advisors LLC boosted its holdings in shares of Wayfair by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock worth $1,982,000 after purchasing an additional 2,250 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Wayfair in the 4th quarter worth approximately $229,000. Finally, SG Americas Securities LLC boosted its holdings in Wayfair by 277.4% in the fourth quarter. SG Americas Securities LLC now owns 12,591 shares of the company’s stock valued at $558,000 after acquiring an additional 9,255 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In related news, CTO Fiona Tan sold 23,835 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the sale, the chief technology officer now directly owns 111,128 shares in the company, valued at $3,547,205.76. This represents a 17.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the completion of the transaction, the chief financial officer now owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. The trade was a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,863 shares of company stock valued at $4,847,429 in the last quarter. Corporate insiders own 21.91% of the company’s stock.

Wayfair Trading Up 5.7 %

Shares of Wayfair stock opened at $26.58 on Monday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18. The stock has a 50-day moving average price of $34.55 and a 200 day moving average price of $42.42. The company has a market cap of $3.37 billion, a P/E ratio of -6.61 and a beta of 3.72.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. On average, equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on W shares. BMO Capital Markets increased their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, February 21st. Stifel Nicolaus cut their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group upgraded shares of Wayfair from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $47.00 in a research note on Friday, March 7th. Wedbush reissued a “neutral” rating and issued a $46.00 target price (up from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Finally, Truist Financial cut their price objective on shares of Wayfair from $53.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Sixteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.92.

Wayfair Company 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.