Wayfair Inc. $W Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Wayfair Inc. (NYSE:W) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,259,111 shares of the company’s stock after selling 197,587 shares during the period. Wellington Management Group LLP’s holdings in Wayfair were worth $208,787,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after acquiring an additional 120 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Wayfair by 4.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,435 shares of the company’s stock worth $345,000 after acquiring an additional 155 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Wayfair by 12.8% in the 4th quarter. Parallel Advisors LLC now owns 1,400 shares of the company’s stock worth $141,000 after acquiring an additional 159 shares during the last quarter. Flynn Zito Capital Management LLC boosted its position in shares of Wayfair by 6.4% during the 1st quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company’s stock worth $209,000 after purchasing an additional 168 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Wayfair by 3.3% during the 4th quarter. Utah Retirement Systems now owns 5,194 shares of the company’s stock worth $522,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Conine sold 69,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the sale, the director owned 360,073 shares in the company, valued at approximately $37,217,145.28. This trade represents a 16.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 143,925 shares of company stock valued at $14,834,198. 18.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on W shares. Royal Bank Of Canada boosted their target price on Wayfair from $78.00 to $92.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and set a $108.00 price target on shares of Wayfair in a research report on Tuesday, August 4th. Truist Financial lifted their price objective on Wayfair from $99.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Finally, Rosenblatt Securities began coverage on Wayfair in a research note on Thursday, August 20th. They set a “buy” rating and a $125.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.89.

Wayfair Stock Down 4.3%

Shares of W opened at $99.32 on Tuesday. Wayfair Inc. has a fifty-two week low of $55.60 and a fifty-two week high of $119.98. The firm’s 50 day moving average price is $95.80 and its 200 day moving average price is $81.81. The company has a market cap of $13.11 billion, a P/E ratio of -40.37, a PEG ratio of 4.17 and a beta of 2.99.

Wayfair (NYSE:W) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business earned $0.87 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Research analysts forecast that Wayfair Inc. will post 0.83 earnings per share for the current year.

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.