CIBC Private Wealth Group LLC Sells 1,169 Shares of Wayfair Inc. (NYSE:W)

CIBC Private Wealth Group LLC reduced its stake in Wayfair Inc. (NYSE:W) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,888 shares of the company’s stock after selling 1,169 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.06% of Wayfair worth $3,349,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of W. Tabor Asset Management LP boosted its position in shares of Wayfair by 11.3% in the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares during the period. Groupama Asset Managment boosted its holdings in Wayfair by 100.0% in the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after purchasing an additional 500,000 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Wayfair during the 4th quarter worth approximately $6,799,000. Wellington Management Group LLP raised its position in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after buying an additional 201,157 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Wayfair in the third quarter valued at approximately $1,070,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,966 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.93, for a total transaction of $223,122.38. Following the transaction, the insider now directly owns 68,089 shares of the company’s stock, valued at $3,059,238.77. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the sale, the chief financial officer now directly owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. This trade represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,577 shares of company stock valued at $6,792,672 over the last quarter. Insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on W shares. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Monday, March 10th. Truist Financial decreased their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Stifel Nicolaus reduced their price target on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, Bank of America decreased their price objective on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Fourteen 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 company. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Trading Up 5.5 %

Shares of W stock opened at $33.70 on Thursday. The stock has a 50-day moving average of $40.41 and a 200-day moving average of $45.01. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -8.38 and a beta of 3.44. Wayfair Inc. has a 1-year low of $28.47 and a 1-year high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current 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.