Wayfair Inc. $W Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of Wayfair Inc. (NYSE:W) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,898,236 shares of the company’s stock after selling 417,101 shares during the period. Vanguard Group Inc. owned 7.01% of Wayfair worth $285,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its position in Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after acquiring an additional 383 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $42,000 after acquiring an additional 609 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock valued at $250,000 after acquiring an additional 2,116 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC increased its position in shares of Wayfair by 25.9% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 11,083 shares of the company’s stock valued at $491,000 after acquiring an additional 2,281 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 199,422 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the sale, the chief executive officer owned 544,137 shares in the company, valued at $42,660,340.80. This represents a 26.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 199,473 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the completion of the sale, the insider owned 544,073 shares of the company’s stock, valued at approximately $42,655,323.20. This trade represents a 26.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,215,789 shares of company stock worth $73,975,995. 21.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on W. Argus upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, May 12th. Bank of America lifted their price target on shares of Wayfair from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Needham & Company LLC lifted their price target on shares of Wayfair from $40.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Stifel Nicolaus set a $68.00 price target on shares of Wayfair and gave the company a “hold” rating in a research report on Tuesday, August 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $95.00 price target on shares of Wayfair in a research report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.96.

Wayfair Stock Down 0.3%

Shares of Wayfair stock opened at $78.82 on Monday. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $80.50. The company has a 50 day moving average of $59.17 and a 200 day moving average of $44.16. The company has a market capitalization of $10.22 billion, a P/E ratio of -32.84 and a beta of 2.92.

Wayfair (NYSE:W) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.11 billion. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

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.