Wayfair Inc. (NYSE:W) Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. lowered its position in shares of Wayfair Inc. (NYSE:W) by 5.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 683,970 shares of the company’s stock after selling 37,648 shares during the quarter. Maverick Capital Ltd. owned about 0.55% of Wayfair worth $38,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of Wayfair by 7.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 19,998 shares of the company’s stock valued at $1,358,000 after buying an additional 1,400 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Wayfair by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,679 shares of the company’s stock valued at $3,644,000 after buying an additional 4,458 shares during the last quarter. Comerica Bank raised its stake in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares during the last quarter. Boston Partners purchased a new position in shares of Wayfair during the 1st quarter valued at about $769,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Wayfair during the 2nd quarter valued at about $561,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the company’s 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 owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $1,269,300.00. Following the sale, the insider now owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,868 shares of company stock valued at $3,272,548 over the last quarter. 26.81% of the stock is owned by insiders.

Wayfair Stock Up 1.9 %

Wayfair stock opened at $46.29 on Friday. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18. The stock’s fifty day simple moving average is $47.35 and its 200-day simple moving average is $50.00.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned ($1.38) EPS. On average, analysts predict that Wayfair Inc. will post -2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on W. Barclays reduced their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Truist Financial cut 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. Mizuho cut their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.28.

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.