Boston Partners Sells 336,875 Shares of Wayfair Inc. $W

Boston Partners reduced its stake in Wayfair Inc. (NYSE:W - Free Report) by 93.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,529 shares of the company's stock after selling 336,875 shares during the period. Boston Partners' holdings in Wayfair were worth $786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after acquiring an additional 609 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Wayfair by 15,266.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company's stock worth $148,000 after acquiring an additional 4,580 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Optas LLC lifted its holdings in Wayfair by 103.3% during the first quarter. Optas LLC now owns 9,274 shares of the company's stock worth $297,000 after acquiring an additional 4,712 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Up 2.6%

Shares of NYSE:W traded up $1.9870 during midday trading on Friday, reaching $78.3570. The company had a trading volume of 5,091,080 shares, compared to its average volume of 5,132,173. The business's 50 day moving average price is $61.65 and its 200 day moving average price is $45.07. The stock has a market cap of $10.16 billion, a PE ratio of -32.65 and a beta of 2.92. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $81.94.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. Wayfair's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. On average, research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven Conine sold 85,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the sale, the insider directly owned 459,073 shares in the company, valued at approximately $36,757,975.11. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 85,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the sale, the chief executive officer owned 459,137 shares of the company's stock, valued at approximately $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,385,789 shares of company stock valued at $87,587,895. Corporate insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on W. Jefferies Financial Group lifted their target price on Wayfair from $74.00 to $91.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company set a $84.00 target price on Wayfair and gave the stock an "overweight" rating in a report on Tuesday, August 5th. Evercore ISI lifted their target price on Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. BMO Capital Markets reiterated a "market perform" rating and set a $68.00 target price (up from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $70.00 target price (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.65.

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.