Emerald Advisers LLC Sells 7,171 Shares of Wayfair Inc. (NYSE:W)

Emerald Advisers LLC cut its stake in Wayfair Inc. (NYSE:W) by 55.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,844 shares of the company’s stock after selling 7,171 shares during the period. Emerald Advisers LLC’s holdings in Wayfair were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of Wayfair in the 1st quarter worth about $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the second quarter valued at approximately $58,000. Comerica Bank boosted its holdings in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after buying an additional 829 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wayfair during the 2nd quarter worth approximately $109,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after acquiring an additional 471 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on W. UBS Group cut their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada cut their price objective on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Guggenheim reaffirmed a “buy” rating and issued a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. Stifel Nicolaus dropped their price target on Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research note on Friday. Twelve analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.21.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,471 shares of company stock valued at $1,987,002. 26.81% of the stock is owned by insiders.

Wayfair Stock Down 6.3 %

W stock opened at $40.15 on Monday. The firm has a market cap of $4.96 billion, a PE ratio of -7.59 and a beta of 3.46. The business has a 50 day moving average of $48.69 and a 200-day moving average of $52.35. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Wayfair’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.27) EPS. On average, research analysts expect that Wayfair Inc. will post -2.68 earnings per share for the current year.

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.