Jain Global LLC Has $21.93 Million Stake in Wayfair Inc. $W

Jain Global LLC trimmed its holdings in shares of Wayfair Inc. (NYSE:W) by 73.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 245,506 shares of the company’s stock after selling 693,592 shares during the quarter. Jain Global LLC’s holdings in Wayfair were worth $21,931,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Cornerstone Planning Group LLC grew its holdings in Wayfair by 28,200.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 282 shares during the period. True Wealth Design LLC lifted its stake in shares of Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Wayfair by 56.5% in the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock worth $57,000 after purchasing an additional 229 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Up 2.6%

W opened at $75.69 on Monday. The stock has a market cap of $9.90 billion, a P/E ratio of -31.15, a P/E/G ratio of 5.61 and a beta of 3.40. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $119.98. The company has a fifty day simple moving average of $94.02 and a 200 day simple moving average of $93.73.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group reiterated a “buy” rating on shares of Wayfair in a report on Tuesday, February 17th. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Wayfair in a report on Friday, February 20th. The Goldman Sachs Group set a $92.00 target price on Wayfair in a research report on Friday, February 20th. Robert W. Baird lowered their price target on Wayfair from $98.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Finally, Morgan Stanley increased their price target on shares of Wayfair from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.62.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 150,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $108.87, for a total value of $16,330,500.00. Following the completion of the sale, the chief executive officer directly owned 289,137 shares in the company, valued at $31,478,345.19. This represents a 34.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 150,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $108.87, for a total value of $16,330,500.00. Following the sale, the insider directly owned 289,073 shares in the company, valued at approximately $31,471,377.51. This represents a 34.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 890,494 shares of company stock valued at $86,493,261. Company insiders own 21.91% of the company’s stock.

Wayfair Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.