Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wayfair Inc. (NYSE:W – Free Report) by 670.3% during the second quarter, HoldingsChannel reports. The firm owned 415,706 shares of the company’s stock after buying an additional 361,739 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wayfair were worth $26,252,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in W. Charles Schwab Investment Management Inc. raised its stake in Wayfair by 11.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 337,376 shares of the company’s stock worth $21,933,000 after buying an additional 35,023 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Wayfair by 1,457.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 183,709 shares of the company’s stock valued at $11,943,000 after purchasing an additional 171,914 shares during the period. Canada Pension Plan Investment Board bought a new stake in Wayfair during the 2nd quarter worth approximately $585,000. Swiss National Bank raised its holdings in Wayfair by 5.1% during the 2nd quarter. Swiss National Bank now owns 166,200 shares of the company’s stock worth $10,805,000 after buying an additional 8,000 shares during the period. Finally, Rhumbline Advisers lifted its stake in Wayfair by 12.2% in the second quarter. Rhumbline Advisers now owns 96,886 shares of the company’s stock valued at $6,299,000 after buying an additional 10,545 shares in the last quarter. 89.67% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Anke Schaferkordt sold 616 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $47.15, for a total value of $29,044.40. Following the transaction, the director now owns 8,659 shares in the company, valued at $408,271.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jon Blotner sold 3,628 shares of Wayfair stock in a transaction on Monday, November 6th. The stock was sold at an average price of $50.00, for a total value of $181,400.00. Following the transaction, the insider now owns 24,417 shares in the company, valued at approximately $1,220,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anke Schaferkordt sold 616 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $47.15, for a total value of $29,044.40. Following the transaction, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $408,271.85. The disclosure for this sale can be found here. Insiders have sold 65,923 shares of company stock valued at $3,873,864 over the last 90 days. 26.81% of the stock is owned by corporate insiders.
Wayfair Stock Up 4.9 %
Analysts Set New Price Targets
Several brokerages have recently issued reports on W. Truist Financial increased their price objective on shares of Wayfair from $56.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Barclays boosted their price target on Wayfair from $40.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. UBS Group upgraded Wayfair from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $110.00 in a report on Monday, August 7th. Wedbush cut their target price on Wayfair from $80.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Gordon Haskett raised shares of Wayfair from a “hold” rating to a “buy” rating and raised their price target for the stock from $65.00 to $110.00 in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wayfair presently has a consensus rating of “Hold” and a consensus price target of $74.27.
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.
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