AXQ Capital LP Has $286,000 Stock Position in Wayfair Inc. $W

Key Points

• AXQ Capital sharply reduced its Wayfair position by 91.5% in the second quarter, selling 33,121 shares and retaining 3,095 shares worth approximately $286,000. Institutional investors collectively own 89.67% of the company.
• Wayfair insiders sold significant stock, including CEO Niraj Shah and Director Steven Conine each selling 69,000 shares at an average price of $103.36 under pre-arranged Rule 10b5-1 plans. Insiders sold 143,925 shares worth about $14.8 million over the past three months.
• Analysts maintain a generally positive outlook, with Wayfair carrying a “Moderate Buy” consensus rating and a $119.89 average price target. The company recently beat quarterly EPS and revenue expectations, reporting $0.95 EPS and $3.52 billion in revenue.

AXQ Capital LP lowered its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 91.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,095 shares of the company's stock after selling 33,121 shares during the quarter. AXQ Capital LP's holdings in Wayfair were worth $286,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Havemeyer Place LP bought a new position in Wayfair in the fourth quarter valued at approximately $39,000. Kestra Advisory Services LLC bought a new stake in shares of Wayfair in the 4th quarter valued at about $44,000. Larson Financial Group LLC increased its stake in shares of Wayfair by 30.0% in the 3rd 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. Comerica Bank raised its position in shares of Wayfair by 56.5% in the 3rd quarter. Comerica Bank now owns 634 shares of the company's stock valued at $57,000 after acquiring an additional 229 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Wayfair in the 4th quarter valued at approximately $71,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 69,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 360,137 shares in the company, valued at approximately $37,223,760.32. The trade was a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 360,073 shares of the company's stock, valued at approximately $37,217,145.28. This trade represents a 16.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 143,925 shares of company stock worth $14,834,198. 18.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on W. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $120.00 price objective on shares of Wayfair in a report on Wednesday, August 5th. Weiss Ratings raised shares of Wayfair from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. The Goldman Sachs Group reissued a "neutral" rating on shares of Wayfair in a report on Wednesday, August 5th. Guggenheim upped their price objective on shares of Wayfair from $100.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Wayfair from $78.00 to $92.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.89.

Wayfair Stock Up 0.3%

Shares of W stock opened at $99.77 on Wednesday. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98. The firm has a fifty day moving average of $96.40 and a 200-day moving average of $82.32. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of -40.56, a P/E/G ratio of 3.57 and a beta of 2.99.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. On average, equities analysts expect that Wayfair Inc. will post 0.93 EPS 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.

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