CIBC Private Wealth Group LLC Sells 1,169 Shares of Wayfair Inc. (NYSE:W)

CIBC Private Wealth Group LLC lessened its holdings in shares of Wayfair Inc. (NYSE:W) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,888 shares of the company’s stock after selling 1,169 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Wayfair were worth $3,349,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Tabor Asset Management LP increased its position in shares of Wayfair by 11.3% during the third 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 in the last quarter. Groupama Asset Managment increased its holdings in Wayfair by 100.0% during 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 stake in shares of Wayfair in the fourth quarter worth approximately $6,799,000. Wellington Management Group LLP lifted its holdings in shares of Wayfair by 22.4% in 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 position in shares of Wayfair during the third quarter valued at approximately $1,070,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 19,257 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the transaction, the insider now directly owns 78,308 shares in the company, valued at approximately $2,480,797.44. This represents a 19.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 5,974 shares of Wayfair stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.95, for a total transaction of $268,531.30. Following the sale, the chief financial officer now owns 129,964 shares of the company’s stock, valued at approximately $5,841,881.80. The trade was a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,577 shares of company stock valued at $6,792,672. Corporate insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE W opened at $33.70 on Thursday. Wayfair Inc. has a fifty-two week low of $28.47 and a fifty-two week high of $76.18. The stock has a market cap of $4.28 billion, a PE ratio of -8.38 and a beta of 3.44. The stock has a fifty day moving average of $40.41 and a 200-day moving average of $45.01.

Wayfair (NYSE:W) last posted its 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 business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

W has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Piper Sandler set a $58.00 price target on shares of Wayfair and gave the stock an “overweight” rating in a report on Friday, February 21st. Loop Capital decreased their price objective on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. cut their target price on Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $47.00 in a research report on Friday, March 7th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

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.