Tiverton Asset Management LLC cut its position in Wayfair Inc (NYSE:W) by 8.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,740 shares of the company’s stock after selling 260 shares during the quarter. Tiverton Asset Management LLC’s holdings in Wayfair were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. FIL Ltd acquired a new position in Wayfair in the first quarter valued at about $272,369,000. William Blair Investment Management LLC increased its stake in shares of Wayfair by 494.4% during the first quarter. William Blair Investment Management LLC now owns 750,968 shares of the company’s stock valued at $111,481,000 after buying an additional 624,622 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Wayfair by 14.2% during the second quarter. Baillie Gifford & Co. now owns 3,992,065 shares of the company’s stock valued at $582,841,000 after acquiring an additional 497,644 shares in the last quarter. FMR LLC raised its holdings in shares of Wayfair by 2.0% during the first quarter. FMR LLC now owns 9,454,927 shares of the company’s stock valued at $1,403,584,000 after acquiring an additional 184,311 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Wayfair by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 592,170 shares of the company’s stock valued at $53,308,000 after acquiring an additional 78,626 shares in the last quarter. 75.98% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Edmond Macri sold 5,012 shares of the firm’s stock in a transaction on Saturday, June 15th. The stock was sold at an average price of $156.06, for a total transaction of $782,172.72. Following the completion of the transaction, the insider now directly owns 3,450 shares in the company, valued at $538,407. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James R. Miller sold 1,656 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $111.17, for a total value of $184,097.52. Following the transaction, the insider now owns 8,865 shares of the company’s stock, valued at $985,522.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,781 shares of company stock worth $5,424,661. Insiders own 33.86% of the company’s stock.

Several analysts recently weighed in on the stock. Wedbush cut their price target on shares of Wayfair from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Piper Jaffray Companies set a $175.00 price objective on shares of Wayfair and gave the stock a “buy” rating in a report on Friday, July 19th. Credit Suisse Group decreased their price objective on shares of Wayfair from $195.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Needham & Company LLC began coverage on shares of Wayfair in a research report on Monday, July 1st. They issued a “buy” rating and a $175.00 target price for the company. Finally, Goldman Sachs Group initiated coverage on shares of Wayfair in a research note on Tuesday, September 3rd. They set a “buy” rating and a $145.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. Wayfair currently has a consensus rating of “Buy” and a consensus target price of $155.31.

NYSE:W traded up $4.94 during mid-day trading on Wednesday, hitting $128.68. 852,060 shares of the company’s stock were exchanged, compared to its average volume of 2,298,138. The company has a market cap of $11.45 billion, a PE ratio of -22.94 and a beta of 1.93. Wayfair Inc has a one year low of $76.60 and a one year high of $173.72. The business has a fifty day moving average price of $120.89 and a 200 day moving average price of $144.59.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported ($1.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.62. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business posted ($0.77) EPS. Wayfair’s revenue for the quarter was up 41.6% on a year-over-year basis. Equities analysts predict that Wayfair Inc will post -9.43 earnings per share for the current fiscal year.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

See Also: Liquidity

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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