Wayfair Inc. $W is Spruce House Investment Management LLC’s 6th Largest Position

Spruce House Investment Management LLC reduced its stake in Wayfair Inc. (NYSE:W) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,600,000 shares of the company’s stock after selling 323,845 shares during the period. Wayfair makes up about 7.0% of Spruce House Investment Management LLC’s investment portfolio, making the stock its 6th biggest holding. Spruce House Investment Management LLC owned approximately 1.97% of Wayfair worth $195,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in W. Capital World Investors boosted its position in shares of Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after buying an additional 82,584 shares during the period. Vanguard Group Inc. raised its holdings in shares of Wayfair by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after buying an additional 72,707 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Wayfair by 3.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after buying an additional 180,558 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Wayfair by 4.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,570,475 shares of the company’s stock valued at $358,514,000 after buying an additional 166,855 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Wayfair by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock worth $283,724,000 after acquiring an additional 8,598 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on W shares. Robert W. Baird set a $76.00 price target on Wayfair in a report on Monday, May 4th. Needham & Company LLC dropped their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Guggenheim reissued a “buy” rating and set a $100.00 target price on shares of Wayfair in a research report on Wednesday, May 20th. Jefferies Financial Group decreased their target price on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Finally, Wedbush initiated coverage on shares of Wayfair in a report on Thursday, July 16th. They set a “neutral” rating and a $104.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.36.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider owned 117,344 shares in the company, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders own 18.44% of the company’s stock.

Wayfair Stock Performance

Shares of W opened at $84.01 on Monday. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98. The stock has a 50-day moving average price of $81.25 and a 200 day moving average price of $82.93. The company has a market capitalization of $11.09 billion, a P/E ratio of -35.90, a P/E/G ratio of 4.66 and a beta of 2.96.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the business earned $0.10 EPS. Wayfair’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Wayfair Inc. will post 0.6 earnings per share for the current fiscal 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.