Nan Fung Trinity HK Ltd. Grows Stake in Wayfair Inc. (NYSE:W)

Nan Fung Trinity HK Ltd. grew its stake in shares of Wayfair Inc. (NYSE:W) by 25.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 257,700 shares of the company’s stock after acquiring an additional 51,800 shares during the period. Wayfair comprises about 2.3% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 14th largest position. Nan Fung Trinity HK Ltd.’s holdings in Wayfair were worth $11,421,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Tabor Asset Management LP raised its holdings in Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after acquiring an additional 15,932 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Wayfair by 100.0% in the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Wayfair in the fourth quarter worth $6,799,000. Wellington Management Group LLP lifted its holdings in shares of Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after purchasing an additional 201,157 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Wayfair during the third quarter valued at $1,070,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on W. Piper Sandler set a $58.00 target price on Wayfair and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Wayfair in a report on Friday. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Bank of America cut their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Mizuho decreased their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $58.40.

Wayfair Price Performance

Shares of W stock opened at $41.92 on Friday. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -10.43 and a beta of 3.43. The company’s fifty day moving average price is $46.22 and its 200-day moving average price is $46.51. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18.

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

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the sale, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas Netzer sold 1,039 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares in the company, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,228 shares of company stock valued at $7,830,018. 26.81% of the stock is owned by company insiders.

About Wayfair

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.