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

Mirae Asset Global Investments Co. Ltd. boosted its position in Wayfair Inc. (NYSE:W) by 27.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,661 shares of the company’s stock after purchasing an additional 45,138 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wayfair were worth $9,221,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of W. Southpoint Capital Advisors LP bought a new stake in Wayfair in the 3rd quarter valued at about $78,652,000. Holocene Advisors LP increased its stake in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after buying an additional 1,213,896 shares during the period. Groupama Asset Managment increased its stake in Wayfair by 100.0% during the 3rd 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. Charles Schwab Investment Management Inc. increased its stake in Wayfair by 35.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after buying an additional 253,681 shares during the period. Finally, Wellington Management Group LLP increased its stake in Wayfair by 22.4% during the 3rd 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. 89.67% of the stock is currently owned by institutional investors.

Wayfair Price Performance

Shares of W opened at $47.36 on Friday. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18. The company has a 50-day moving average of $47.33 and a two-hundred day moving average of $46.84. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of -10.55 and a beta of 3.43.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial lowered their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Loop Capital raised their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, Robert W. Baird lowered their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.24.

Insider Buying and Selling

In related news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the sale, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $52,625.35. Following the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,228 shares of company stock worth $7,709,418. 23.50% of the stock is owned by company insiders.

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.