Baillie Gifford & Co. Sells 271,831 Shares of Wayfair Inc. (NYSE:W)

Key Points

• Baillie Gifford & Co. reduced its holdings in Wayfair Inc. by 4.4% in Q1, selling 271,831 shares and now owns 5,907,930 shares worth approximately $189.2 million.
• CEO Niraj Shah sold 60,000 shares of Wayfair stock for about $3.36 million, resulting in a 26.19% decrease in his ownership.
• Wayfair's stock has a market cap of $8.10 billion, with a recent trading price of $63.12 and a consensus rating of "Moderate Buy" among analysts.

Baillie Gifford & Co. decreased its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,907,930 shares of the company's stock after selling 271,831 shares during the quarter. Baillie Gifford & Co. owned about 4.66% of Wayfair worth $189,231,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after purchasing an additional 327,603 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Wayfair by 60.1% during the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after purchasing an additional 2,116 shares during the last quarter. LPL Financial LLC grew its position in shares of Wayfair by 218.2% during the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock worth $1,706,000 after buying an additional 26,390 shares during the period. Norges Bank acquired a new stake in shares of Wayfair during the 4th quarter worth approximately $31,472,000. Finally, GAMMA Investing LLC grew its position in shares of Wayfair by 5,850.4% during the 1st quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock worth $1,319,000 after buying an additional 41,538 shares during the period. Institutional investors own 89.67% of the company's stock.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 60,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $56.03, for a total value of $3,361,800.00. Following the sale, the chief executive officer directly owned 169,137 shares in the company, valued at approximately $9,476,746.11. The trade was a 26.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 60,000 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.02, for a total value of $3,361,200.00. Following the completion of the sale, the insider owned 169,073 shares in the company, valued at $9,471,469.46. This represents a 26.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 800,731 shares of company stock worth $40,152,384 in the last ninety days. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on W shares. Zelman & Associates raised their price objective on shares of Wayfair from $55.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Argus raised shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Monday, May 12th. Bank of America raised their price objective on shares of Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. TD Cowen raised shares of Wayfair from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $25.00 price objective on shares of Wayfair in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and a consensus price target of $48.38.

Wayfair Price Performance

Shares of NYSE W traded up $2.28 during mid-day trading on Friday, reaching $65.35. 3,573,907 shares of the company's stock were exchanged, compared to its average volume of 4,385,312. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of -22.93 and a beta of 2.97. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $65.42. The firm has a 50-day moving average price of $49.67 and a two-hundred day moving average price of $41.48.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. The company's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. As a group, sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.