Neo Ivy Capital Management Sells 48,363 Shares of Wayfair Inc. (NYSE:W)

Key Points

• Neo Ivy Capital Management significantly reduced its holdings in Wayfair by 60.2%, selling 48,363 shares and leaving it with 31,962 shares valued at approximately $1,024,000.
• Recent insider selling includes CEO Niraj Shah, who sold 60,000 shares at an average price of $56.03, reflecting a 26.19% decrease in his ownership.
• Wayfair's stock opened at $65.35, showing a twelve-month range from a low of $20.41 to a high of $65.42, with institutional investors owning 89.67% of the shares.

Neo Ivy Capital Management cut its holdings in Wayfair Inc. (NYSE:W - Free Report) by 60.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,962 shares of the company's stock after selling 48,363 shares during the quarter. Neo Ivy Capital Management's holdings in Wayfair were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% in the fourth 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. California State Teachers Retirement System grew its stake in shares of Wayfair by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock worth $3,860,000 after purchasing an additional 383 shares during the last quarter. GAMMA Investing LLC boosted its position in Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Wayfair by 5.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock valued at $555,000 after acquiring an additional 690 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Wayfair by 2.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company's stock valued at $1,857,000 after acquiring an additional 920 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 13,857 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $56.45, for a total transaction of $782,227.65. Following the completion of the sale, the insider directly owned 91,263 shares in the company, valued at approximately $5,151,796.35. The trade was a 13.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 60,000 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $56.03, for a total transaction of $3,361,800.00. Following the sale, the chief executive officer owned 169,137 shares of the company's stock, valued at approximately $9,476,746.11. This represents a 26.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 800,731 shares of company stock worth $40,152,384. Insiders own 21.91% of the company's stock.

Wayfair Stock Up 3.6%

Shares of NYSE W opened at $65.35 on Friday. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $65.42. The firm has a market cap of $8.39 billion, a P/E ratio of -22.93 and a beta of 2.97. The company has a 50 day moving average of $49.67 and a 200 day moving average of $41.51.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. Wayfair's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. As a group, equities analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America lifted their price objective on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group cut their price objective on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $61.00 price objective (up from $46.00) on shares of Wayfair in a research report on Friday, June 13th. Stifel Nicolaus cut their price objective on Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, TD Cowen raised Wayfair from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.38.

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.

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