Optas LLC Cuts Stake in Wayfair Inc. (NYSE:W)

Optas LLC lessened its holdings in Wayfair Inc. (NYSE:W) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,562 shares of the company’s stock after selling 252 shares during the period. Optas LLC’s holdings in Wayfair were worth $202,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new position in shares of Wayfair during the fourth quarter worth about $220,000. SG Americas Securities LLC grew its holdings in Wayfair by 277.4% during the 4th quarter. SG Americas Securities LLC now owns 12,591 shares of the company’s stock worth $558,000 after acquiring an additional 9,255 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Wayfair by 5.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after purchasing an additional 2,250 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Wayfair in the 4th quarter valued at approximately $229,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Wayfair in the 4th quarter valued at $6,799,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kate Gulliver sold 5,974 shares of Wayfair stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.95, for a total transaction of $268,531.30. Following the completion of the sale, the chief financial officer now directly owns 129,964 shares in the company, valued at approximately $5,841,881.80. This trade represents a 4.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the completion of the sale, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,753 shares of company stock valued at $7,687,368 over the last quarter. Company insiders own 23.50% of the company’s stock.

Wayfair Trading Up 3.3 %

NYSE W opened at $47.44 on Wednesday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -10.57 and a beta of 3.43. The business’s 50 day moving average is $47.27 and its two-hundred day moving average is $46.83. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18.

Analysts Set New Price Targets

Several research firms recently commented on W. Royal Bank of Canada dropped their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Citigroup cut their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Truist Financial lowered their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, BMO Capital Markets lowered their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.24.

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.