Alliancebernstein L.P. Decreases Holdings in Wayfair Inc (W)
Alliancebernstein L.P. trimmed its holdings in shares of Wayfair Inc (NYSE:W) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 938,254 shares of the company’s stock after selling 118,486 shares during the period. Alliancebernstein L.P. owned approximately 1.05% of Wayfair worth $138,552,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cornerstone Wealth Management LLC purchased a new position in shares of Wayfair during the 3rd quarter valued at approximately $150,000. Engineers Gate Manager LP purchased a new position in shares of Wayfair during the 2nd quarter valued at approximately $208,000. World Asset Management Inc purchased a new position in shares of Wayfair during the 2nd quarter valued at approximately $214,000. Peregrine Asset Advisers Inc. purchased a new position in shares of Wayfair during the 2nd quarter valued at approximately $214,000. Finally, Baldwin Brothers Inc. MA purchased a new position in shares of Wayfair during the 3rd quarter valued at approximately $241,000. Institutional investors and hedge funds own 70.89% of the company’s stock.
Wayfair stock opened at $84.55 on Wednesday. Wayfair Inc has a 52-week low of $60.53 and a 52-week high of $151.20. The firm has a market cap of $7.93 billion, a PE ratio of -30.20 and a beta of 1.84.
Several brokerages recently commented on W. William Blair reissued a “market perform” rating on shares of Wayfair in a report on Monday, November 5th. Robert W. Baird boosted their price target on shares of Wayfair to $118.00 and gave the stock a “neutral” rating in a report on Friday, August 3rd. Canaccord Genuity reissued a “buy” rating and issued a $140.00 price target (up previously from $135.00) on shares of Wayfair in a report on Thursday, August 2nd. Gordon Haskett lowered shares of Wayfair from an “accumulate” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Morgan Stanley set a $105.00 price target on shares of Wayfair and gave the stock a “hold” rating in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $126.06.
In other news, insider Steven Conine sold 26,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $137.11, for a total transaction of $3,564,860.00. Following the transaction, the insider now owns 48,538 shares of the company’s stock, valued at approximately $6,655,045.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Edmond Macri sold 600 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $80.94, for a total transaction of $48,564.00. Following the transaction, the insider now directly owns 500 shares in the company, valued at approximately $40,470. The disclosure for this sale can be found here. Insiders have sold 413,689 shares of company stock valued at $55,578,422 in the last ninety days. Insiders own 37.75% of the company’s stock.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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