Bares Capital Management Inc. Cuts Stock Position in Wayfair Inc. (NYSE:W)

Bares Capital Management Inc. lowered its stake in Wayfair Inc. (NYSE:W) by 7.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,268,935 shares of the company’s stock after selling 187,764 shares during the period. Wayfair accounts for about 2.8% of Bares Capital Management Inc.’s holdings, making the stock its 11th largest holding. Bares Capital Management Inc. owned 2.02% of Wayfair worth $77,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in W. Captrust Financial Advisors boosted its stake in Wayfair by 102.6% during the 1st quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock valued at $86,000 after purchasing an additional 395 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Wayfair by 169.5% during the 4th quarter. IFP Advisors Inc now owns 919 shares of the company’s stock valued at $96,000 after buying an additional 578 shares during the period. Covestor Ltd lifted its holdings in shares of Wayfair by 2,934.3% during the 1st quarter. Covestor Ltd now owns 1,062 shares of the company’s stock valued at $118,000 after buying an additional 1,027 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Wayfair by 73.3% during the 1st quarter. Centaurus Financial Inc. now owns 1,587 shares of the company’s stock valued at $176,000 after buying an additional 671 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Wayfair during the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $70.37, for a total value of $703,700.00. Following the completion of the transaction, the chief executive officer now owns 309,137 shares in the company, valued at $21,753,970.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Wayfair news, insider Steve Oblak sold 1,923 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $54.19, for a total transaction of $104,207.37. Following the completion of the transaction, the insider now owns 221,662 shares in the company, valued at $12,011,863.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $70.37, for a total value of $703,700.00. Following the transaction, the chief executive officer now owns 309,137 shares of the company’s stock, valued at approximately $21,753,970.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,836 shares of company stock worth $6,747,863. Corporate insiders own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

W has been the topic of several research analyst reports. Truist Financial increased their price target on Wayfair from $56.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Bank of America increased their price target on Wayfair from $60.00 to $80.00 in a report on Friday, July 14th. Loop Capital increased their price target on Wayfair from $25.00 to $65.00 and gave the company a “sell” rating in a report on Friday, August 4th. TD Cowen raised their target price on Wayfair from $60.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, August 4th. Finally, UBS Group raised Wayfair from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.00 to $110.00 in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $82.46.

Wayfair Stock Up 4.0 %

Shares of Wayfair stock opened at $73.98 on Tuesday. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of -7.75 and a beta of 3.18. The business has a 50-day moving average price of $71.20 and a 200-day moving average price of $51.26. Wayfair Inc. has a twelve month low of $28.11 and a twelve month high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($1.27) EPS for the quarter, topping the consensus estimate of ($2.33) by $1.06. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, equities analysts expect that Wayfair Inc. will post -7.33 EPS for the current fiscal year.

Wayfair Company Profile

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.