177,043 Shares in Wayfair Inc. $W Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group purchased 177,043 Wayfair shares worth approximately $16.4 million, while institutional investors collectively own 89.67% of the company.
• Analysts maintain a generally positive outlook, with Wayfair receiving a “Moderate Buy” consensus rating and an average price target of $119.89.
• Wayfair exceeded quarterly expectations, reporting $0.95 in adjusted EPS versus a $0.90 estimate and $3.52 billion in revenue, up 7.5% year over year; insiders also sold shares under pre-arranged trading plans.

Baird Financial Group Inc. purchased a new stake in Wayfair Inc. (NYSE:W - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 177,043 shares of the company's stock, valued at approximately $16,362,000. Baird Financial Group Inc. owned approximately 0.13% of Wayfair as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. North Dakota State Investment Board bought a new position in Wayfair during the 4th quarter valued at $3,636,000. Assenagon Asset Management S.A. grew its stake in shares of Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company's stock worth $75,654,000 after acquiring an additional 242,791 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Wayfair in the fourth quarter valued at about $5,648,000. Dockside LLC purchased a new stake in shares of Wayfair in the fourth quarter valued at about $1,990,000. Finally, Legato Capital Management LLC purchased a new stake in shares of Wayfair in the fourth quarter valued at about $1,327,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $120.00 price target on shares of Wayfair in a report on Wednesday, August 5th. Truist Financial boosted their target price on Wayfair from $99.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Citigroup upped their target price on Wayfair from $95.00 to $133.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Rosenblatt Securities started coverage on Wayfair in a research report on Thursday, August 20th. They set a "buy" rating and a $125.00 price target for the company. Finally, TD Cowen lifted their price target on Wayfair from $75.00 to $110.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and an average target price of $119.89.

Insider Activity

In other Wayfair news, insider Jon Blotner sold 6,968 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $100.22, for a total transaction of $698,332.96. Following the sale, the insider owned 110,376 shares in the company, valued at $11,061,882.72. This represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 360,137 shares of the company's stock, valued at $37,223,760.32. The trade was a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 150,893 shares of company stock valued at $15,532,531 over the last quarter. Company insiders own 18.44% of the company's stock.

Wayfair Trading Up 1.3%

NYSE:W opened at $98.73 on Friday. Wayfair Inc. has a 12 month low of $55.60 and a 12 month high of $119.98. The firm's 50 day moving average is $96.67 and its 200 day moving average is $82.69. The stock has a market capitalization of $13.03 billion, a PE ratio of -40.14, a price-to-earnings-growth ratio of 3.54 and a beta of 2.99.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 EPS. Research analysts predict that Wayfair Inc. will post 0.93 earnings per share for the current year.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.

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