Wayfair Inc. (NYSE:W) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Wayfair Inc. (NYSE:W) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,122 shares of the company’s stock after selling 743 shares during the period. Principal Financial Group Inc.’s holdings in Wayfair were worth $344,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of W. Creative Planning grew its holdings in shares of Wayfair by 2.1% during the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair in the 3rd quarter worth approximately $29,000. Optimist Retirement Group LLC boosted its stake in Wayfair by 14.9% during the 2nd quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after purchasing an additional 568 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Wayfair by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after acquiring an additional 788 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wayfair in the 3rd quarter worth approximately $44,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction that occurred 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 transaction, the insider now owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. The trade was a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,036 shares of company stock worth $4,551,431. Insiders own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. Truist Financial lowered their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada decreased their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Robert W. Baird dropped their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Stifel Nicolaus reduced their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $60.24.

Wayfair Stock Performance

Shares of W stock opened at $48.34 on Tuesday. The stock’s fifty day moving average is $45.18 and its 200-day moving average is $47.74. The stock has a market capitalization of $6.06 billion, a PE ratio of -10.77 and a beta of 3.43. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.38) earnings per share. As a group, analysts forecast that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

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.