Wayfair Inc. $W Shares Sold by MYDA Advisors LLC

Key Points

• MYDA Advisors LLC reduced its stake in Wayfair Inc. by 52.0%, now holding 24,000 shares valued at approximately $769,000 after selling 26,000 shares in the first quarter.
• Several other large investors have increased their positions, with Southpoint Capital Advisors LP raising its stake by 100.0% to own 2,800,000 shares valued at $124 million.
• Wayfair reported an EPS of $0.87 for the last quarter, exceeding estimates of $0.33, with revenue of $3.27 billion, marking a 5.0% year-over-year increase.

MYDA Advisors LLC trimmed its position in Wayfair Inc. (NYSE:W - Free Report) by 52.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the company's stock after selling 26,000 shares during the quarter. MYDA Advisors LLC's holdings in Wayfair were worth $769,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Wayfair by 5,850.4% in the first 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 last quarter. SG Americas Securities LLC raised its holdings in Wayfair by 74.4% in the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after purchasing an additional 9,372 shares in the last quarter. Northern Trust Corp raised its holdings in Wayfair by 11.4% in the fourth quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after purchasing an additional 47,326 shares in the last quarter. Algert Global LLC acquired a new position in shares of Wayfair during the first quarter valued at about $869,000. Finally, Ameritas Advisory Services LLC increased its holdings in shares of Wayfair by 304.3% during the first quarter. Ameritas Advisory Services LLC now owns 20,916 shares of the company's stock valued at $672,000 after acquiring an additional 15,742 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Stock Down 1.3%

Shares of NYSE W traded down $0.95 during midday trading on Friday, hitting $74.51. The stock had a trading volume of 2,277,597 shares, compared to its average volume of 5,314,146. The stock has a 50 day simple moving average of $64.80 and a 200-day simple moving average of $46.27. The company has a market capitalization of $9.66 billion, a PE ratio of -31.05 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 posted its quarterly earnings data on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the company posted $0.47 earnings per share. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Royal Bank Of Canada raised their price objective on shares of Wayfair from $25.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 price objective (up previously from $38.00) on shares of Wayfair in a research note on Tuesday, August 5th. Wedbush reaffirmed a "neutral" rating on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Gordon Haskett raised shares of Wayfair from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.19.

Insider Activity

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of the firm's stock in a transaction 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 chief executive officer directly owned 459,137 shares of the company's stock, valued at $36,763,099.59. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 459,073 shares of the company's stock, valued at $36,757,975.11. The trade was a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,240,204 shares of company stock valued at $81,706,986. 21.91% of the stock is owned by corporate insiders.

Wayfair 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.