Wayfair Inc. (NYSE:W) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Wayfair Inc. (NYSE:W) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,101 shares of the company’s stock after selling 1,021 shares during the quarter. Principal Financial Group Inc.’s holdings in Wayfair were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of W. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair during the third quarter worth $29,000. GAMMA Investing LLC raised its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair during the third quarter worth $44,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wayfair during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Wayfair during the third quarter worth $50,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Performance

W opened at $35.05 on Friday. The company has a market cap of $4.45 billion, a PE ratio of -8.72 and a beta of 3.44. The stock has a 50-day moving average of $44.61 and a 200-day moving average of $46.22. Wayfair Inc. has a 52-week low of $32.50 and a 52-week 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 5,974 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was 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 owns 129,964 shares in the company, valued at $5,841,881.80. This represents a 4.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,228 shares of company stock worth $6,235,818 in the last 90 days. 23.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. Bank of America dropped their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Truist Financial dropped their price target on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. BMO Capital Markets upped their price target on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $57.69.

Wayfair 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.