Heartland Advisors Inc. Raises Position in Wayfair Inc. (NYSE:W)

Key Points

• Heartland Advisors Inc. increased its stake in Wayfair Inc. by 45.5% during Q1, now holding 80,000 shares valued at approximately $2.56 million.
• Insiders including CEO Niraj Shah and Steven Conine sold large amounts of stock recently, indicating a 43% decrease in their respective positions.
• The consensus rating for Wayfair stock is "Moderate Buy" with a target price of $48.38, amid varying ratings from different analysts.

Heartland Advisors Inc. lifted its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 45.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,000 shares of the company's stock after acquiring an additional 25,000 shares during the quarter. Heartland Advisors Inc. owned 0.06% of Wayfair worth $2,562,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in W. True Wealth Design LLC lifted its holdings in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after acquiring an additional 381 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Wayfair during the 4th quarter worth $41,000. GAMMA Investing LLC increased its holdings in shares of Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after purchasing an additional 609 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Wayfair in the 4th quarter valued at about $224,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Wayfair by 60.1% in the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock valued at $250,000 after purchasing an additional 2,116 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group restated a "buy" rating on shares of Wayfair in a research report on Tuesday, July 1st. Canaccord Genuity Group decreased their price target on Wayfair from $68.00 to $58.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Loop Capital restated a "sell" rating and issued a $35.00 price target on shares of Wayfair in a report on Wednesday, May 14th. Zelman & Associates lifted their price objective on Wayfair from $55.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wedbush upgraded Wayfair to a "hold" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.38.

Insiders Place Their Bets

In other news, insider Steven Conine sold 180,943 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the sale, the insider directly owned 236,167 shares in the company, valued at $12,420,022.53. This represents a 43.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Niraj Shah sold 179,707 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.58, for a total value of $9,448,994.06. Following the completion of the transaction, the chief executive officer directly owned 236,850 shares in the company, valued at $12,453,573. This trade represents a 43.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 800,731 shares of company stock worth $40,152,384. 21.91% of the stock is owned by company insiders.

Wayfair Price Performance

W opened at $65.35 on Friday. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $65.42. The business has a 50-day moving average of $49.67 and a two-hundred day moving average of $41.51. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of -22.93 and a beta of 2.97.

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

About Wayfair

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.

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