Hillsdale Investment Management Inc. Sells 14,000 Shares of Wayfair Inc. $W

Key Points

• Hillsdale Investment Management cut its Wayfair stake by 33.5% in Q1, selling 14,000 shares and leaving it with 27,800 shares valued at about $2.09 million.
• Wayfair’s latest earnings showed EPS of $0.26, matching estimates, while revenue came in at $2.93 billion, above expectations and up 7.4% year over year.
• Analyst sentiment remains cautiously positive, with a Moderate Buy consensus and an average price target of $99.68; shares recently traded at $91.69.

Hillsdale Investment Management Inc. decreased its holdings in Wayfair Inc. (NYSE:W - Free Report) by 33.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,800 shares of the company's stock after selling 14,000 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Wayfair were worth $2,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. 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 stake in shares of Wayfair during the 4th quarter valued at about $33,000. Piper Sandler & CO. purchased a new position in shares of Wayfair during the fourth quarter valued at about $34,000. Havemeyer Place LP bought a new position in Wayfair in the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC raised its stake in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after buying an additional 653 shares in the last quarter. Institutional investors own 89.67% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on W. Wells Fargo & Company cut their price objective on Wayfair from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Zacks Research upgraded Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd. TD Cowen dropped their price target on Wayfair from $88.00 to $75.00 and set a "hold" rating on the stock in a research report on Thursday, April 30th. Benchmark initiated coverage on Wayfair in a research note on Tuesday, July 7th. They issued a "hold" rating on the stock. Finally, Weiss Ratings upgraded shares of Wayfair from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.68.

Wayfair Price Performance

Shares of NYSE:W opened at $91.69 on Thursday. The company has a market cap of $12.10 billion, a P/E ratio of -39.19, a PEG ratio of 4.67 and a beta of 2.96. Wayfair Inc. has a 1 year low of $53.85 and a 1 year high of $119.98. The stock's fifty day moving average price is $77.85 and its 200-day moving average price is $83.73.

Wayfair (NYSE:W - Get Free Report) last released 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 return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same period last year, the firm posted $0.10 earnings per share. Wayfair's revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Activity

In other news, Director Steven Conine sold 7,139 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $78.55, for a total transaction of $560,768.45. Following the completion of the transaction, the director directly owned 429,073 shares of the company's stock, valued at $33,703,684.15. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $78.62, for a total transaction of $482,490.94. Following the transaction, the chief executive officer owned 429,137 shares in the company, valued at approximately $33,738,750.94. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 245,925 shares of company stock valued at $19,183,749 in the last 90 days. 18.44% of the stock is currently owned by insiders.

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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