Wayfair Inc. (NYSE:W) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its position in Wayfair Inc. (NYSE:W) by 13.1% during the 3rd quarter, Holdings Channel reports. The fund owned 3,976 shares of the company’s stock after selling 602 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Wayfair were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in W. Capital Performance Advisors LLP purchased a new position in shares of Wayfair in the 3rd quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair in the third quarter valued at approximately $44,000. Brooklyn Investment Group acquired a new stake in Wayfair during the third quarter worth approximately $50,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair during the 2nd quarter worth approximately $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Wayfair during the 3rd quarter worth approximately $67,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Up 4.5 %

Shares of W stock opened at $45.72 on Friday. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The business has a fifty day simple moving average of $46.12 and a 200-day simple moving average of $48.65. The stock has a market cap of $5.73 billion, a P/E ratio of -10.18 and a beta of 3.44.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.38) EPS. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

W has been the topic of several research analyst reports. Mizuho cut their price target on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada reduced their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Robert W. Baird decreased their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. UBS Group cut their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Thirteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares of the company’s stock, valued at $33,614,929.22. This represents a 4.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,896 shares of company stock valued at $4,869,409. 26.81% of the stock is owned by corporate 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.