Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Wayfair Inc. (NYSE:W)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Wayfair Inc. (NYSE:W) by 27.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,661 shares of the company’s stock after purchasing an additional 45,138 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.16% of Wayfair worth $9,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of W. Tabor Asset Management LP lifted its stake in shares of Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after buying an additional 15,932 shares during the period. Groupama Asset Managment lifted its stake in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Wayfair during the fourth quarter valued at approximately $6,799,000. Wellington Management Group LLP lifted its stake in shares of Wayfair by 22.4% during 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 during the period. Finally, Cerity Partners LLC purchased a new position in shares of Wayfair during the third quarter valued at approximately $1,070,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Trading Down 2.0 %

W opened at $47.36 on Friday. The company has a fifty day simple moving average of $47.33 and a 200 day simple moving average of $46.84. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -10.55 and a beta of 3.43. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares in the company, valued at $33,614,929.22. This represents a 4.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,228 shares of company stock worth $7,709,418 in the last ninety days. 23.50% of the stock is owned by insiders.

Analysts Set New Price Targets

W has been the subject of several research analyst reports. Truist Financial dropped their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. UBS Group dropped their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average price target of $60.24.

Wayfair Company 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.