12,900 Wayfair Inc. $W Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in shares of Wayfair Inc. (NYSE:W) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 403,600 shares of the company’s stock after selling 12,900 shares during the period. Wayfair comprises about 1.5% of Hennessy Advisors Inc.’s portfolio, making the stock its 10th largest holding. Hennessy Advisors Inc.’s holdings in Wayfair were worth $41,393,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of Wayfair by 4.1% during the third quarter. Versant Capital Management Inc now owns 3,551 shares of the company’s stock worth $364,000 after purchasing an additional 140 shares during the period. Flynn Zito Capital Management LLC lifted its position in shares of Wayfair by 6.4% in the 1st quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company’s stock worth $209,000 after buying an additional 168 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Wayfair by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 28,514 shares of the company’s stock valued at $2,635,000 after buying an additional 201 shares during the period. Triumph Capital Management boosted its holdings in shares of Wayfair by 6.3% in the 2nd quarter. Triumph Capital Management now owns 3,498 shares of the company’s stock valued at $323,000 after buying an additional 207 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Wayfair by 5.0% in the 3rd quarter. Signaturefd LLC now owns 5,039 shares of the company’s stock valued at $517,000 after buying an additional 239 shares during the period. Institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

Wayfair stock opened at $115.93 on Monday. Wayfair Inc. has a one year low of $55.60 and a one year high of $120.90. The company has a 50-day simple moving average of $104.78 and a 200-day simple moving average of $89.19. The firm has a market capitalization of $15.30 billion, a P/E ratio of -47.13, a P/E/G ratio of 4.17 and a beta of 3.10.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. Wayfair’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. As a group, sell-side analysts forecast that Wayfair Inc. will post 0.93 earnings per share for the current year.

Analyst Ratings Changes

W has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Wayfair from $99.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Zacks Research cut shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Benchmark started coverage on Wayfair in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their target price on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler upped their target price on Wayfair from $133.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $121.04.

Insiders Place Their Bets

In other news, Director Steven Conine sold 117,000 shares of Wayfair stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the sale, the director owned 105,073 shares of the company’s stock, valued at approximately $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the transaction, the chief executive officer directly owned 105,137 shares of the company’s stock, valued at $11,696,491.25. This trade represents a 52.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 676,570 shares of company stock worth $72,176,934. Insiders own 18.44% of the company’s stock.

Wayfair Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.