Handelsinvest Investeringsforvaltning Trims Stake in Wayfair Inc. (NYSE:W)

Handelsinvest Investeringsforvaltning lowered its stake in Wayfair Inc. (NYSE:W) by 34.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,734 shares of the company’s stock after selling 1,419 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Wayfair were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares during the period. Norges Bank bought a new position in shares of Wayfair during the 4th quarter valued at $47,374,000. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after buying an additional 386,717 shares during the period. Kodai Capital Management LP bought a new position in shares of Wayfair during the 4th quarter valued at $23,552,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Wayfair by 67.7% during the 3rd quarter. Wellington Management Group LLP now owns 644,622 shares of the company’s stock valued at $39,045,000 after buying an additional 260,237 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the completion of the transaction, the chief executive officer now owns 239,137 shares in the company, valued at $15,443,467.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $64.58, for a total transaction of $645,800.00. Following the completion of the transaction, the chief executive officer now owns 239,137 shares in the company, valued at approximately $15,443,467.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,779 shares of company stock worth $3,451,294. Company insiders own 23.50% of the company’s stock.

Wayfair Price Performance

Shares of W opened at $51.44 on Thursday. Wayfair Inc. has a 1-year low of $38.37 and a 1-year high of $90.71. The company’s fifty day moving average price is $58.66 and its 200-day moving average price is $58.32.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.11. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. As a group, equities research analysts predict that Wayfair Inc. will post -2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on W. StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a report on Sunday, June 23rd. Sanford C. Bernstein raised their target price on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Argus raised Wayfair from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Thursday, May 16th. BMO Capital Markets raised their target price on Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Finally, Loop Capital decreased their target price on Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

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.