Wayfair Inc. (NYSE:W) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Wayfair Inc. (NYSE:W) by 29.0% during the 1st quarter, HoldingsChannel reports. The fund owned 514,441 shares of the company’s stock after acquiring an additional 115,646 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wayfair were worth $34,920,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of W. Diversified Trust Co purchased a new position in Wayfair in the first quarter worth approximately $231,000. Chemistry Wealth Management LLC grew its holdings in shares of Wayfair by 12.7% during the 1st quarter. Chemistry Wealth Management LLC now owns 26,656 shares of the company’s stock worth $1,809,000 after purchasing an additional 2,998 shares during the period. Riverview Trust Co acquired a new stake in shares of Wayfair during the 1st quarter worth about $27,000. RFG Advisory LLC purchased a new stake in Wayfair in the 1st quarter valued at about $283,000. Finally, M3 Advisory Group LLC acquired a new position in Wayfair in the fourth quarter valued at about $339,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of NYSE W opened at $51.49 on Friday. The stock’s 50-day simple moving average is $58.67 and its 200-day simple moving average is $58.28. Wayfair Inc. has a fifty-two week low of $38.37 and a fifty-two week high of $90.71.

Wayfair (NYSE:W) last announced 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 company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. As a group, research analysts predict that Wayfair Inc. will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total transaction of $682,600.00. Following the sale, the insider now owns 229,073 shares in the company, valued at $15,636,522.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total transaction of $682,600.00. Following the transaction, the insider now directly owns 229,073 shares in the company, valued at $15,636,522.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold 59,779 shares of company stock valued at $3,451,294 in the last ninety days. Insiders own 23.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Argus upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley raised their price target on Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Mizuho initiated coverage on Wayfair in a report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, BMO Capital Markets raised their target price on Wayfair from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. One equities research 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 stock. According to data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Wayfair 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.