Dockside LLC Makes New $1.99 Million Investment in Wayfair Inc. $W

Key Points

• Dockside LLC opened a new position in Wayfair in the fourth quarter, buying 19,817 shares worth about $1.99 million.
• Wayfair continues to see significant ownership changes, with 89.67% of the stock held by institutional investors and insiders selling $35.9 million worth of shares over the last 90 days.
• Analysts remain cautiously positive overall: Wayfair has a Moderate Buy consensus rating with an average price target of $99.68, while the stock recently traded at $77.37 after posting quarterly revenue growth of 7.4% year over year.

Dockside LLC acquired a new position in Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,817 shares of the company's stock, valued at approximately $1,990,000.

Several other institutional investors have also added to or reduced their stakes in W. Webster Bank N. A. bought a new position in Wayfair in the 4th quarter worth $30,000. V Square Quantitative Management LLC bought a new position in Wayfair in the 4th quarter worth $33,000. Piper Sandler & CO. bought a new position in shares of Wayfair in the 4th quarter worth about $34,000. Havemeyer Place LP bought a new position in shares of Wayfair in the 4th quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after acquiring an additional 653 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insider Activity at Wayfair

In related news, Director Steven Conine sold 7,139 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $78.55, for a total transaction of $560,768.45. Following the sale, the director directly owned 429,073 shares of the company's stock, valued at approximately $33,703,684.15. This represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total transaction of $345,790.10. Following the sale, the insider directly owned 111,158 shares in the company, valued at $8,024,496.02. This trade represents a 4.13% 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 ninety days, insiders have sold 463,785 shares of company stock valued at $35,864,224. 18.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on W shares. Citigroup decreased their price target on shares of Wayfair from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Stifel Nicolaus decreased their price target on shares of Wayfair from $100.00 to $89.00 and set a "hold" rating for the company in a research note on Friday, February 20th. Truist Financial set a $99.00 price target on shares of Wayfair in a research note on Monday, June 8th. TD Cowen decreased their price target on shares of Wayfair from $88.00 to $75.00 and set a "hold" rating for the company in a research note on Thursday, April 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $125.00 price target on shares of Wayfair in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and a consensus target price of $99.68.

Wayfair Stock Performance

Shares of W stock opened at $77.37 on Friday. Wayfair Inc. has a one year low of $45.46 and a one year high of $119.98. The company's 50-day moving average is $70.55 and its 200 day moving average is $85.69. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of -33.06, a price-to-earnings-growth ratio of 4.08 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm posted $0.10 EPS. Wayfair's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts predict that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

About Wayfair

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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