Allspring Global Investments Holdings LLC Lowers Holdings in Wayfair Inc. (NYSE:W)

Allspring Global Investments Holdings LLC decreased its holdings in Wayfair Inc. (NYSE:W) by 99.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,007 shares of the company’s stock after selling 634,226 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wayfair were worth $113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after acquiring an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP lifted its stake in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares during the last quarter. Vanguard Group Inc. lifted its stake in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in Wayfair in the first quarter worth approximately $13,690,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Gordon Haskett cut shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus decreased their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research note on Monday. Piper Sandler decreased their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Citigroup cut their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,471 shares of company stock valued at $1,987,002. 26.81% of the stock is owned by insiders.

Wayfair Trading Up 4.4 %

NYSE:W opened at $41.93 on Tuesday. Wayfair Inc. has a 1-year low of $38.02 and a 1-year high of $76.18. The business’s 50-day moving average price is $48.64 and its two-hundred day moving average price is $52.26. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -7.93 and a beta of 3.46.

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.