Northeast Investment Management Makes New Investment in Wayfair Inc. $W

Key Points

• Northeast Investment Management initiated a Wayfair position, buying 18,905 shares worth about $1.94 million in the third quarter. Other institutional investors also added shares or opened positions; institutions hold 89.67% of the stock.
• Wayfair beat quarterly estimates, reporting earnings of $0.93 per share versus $0.80 expected and revenue of $3.42 billion, up 9.7% year over year.
• Company insiders sold 677,070 shares worth approximately $72.2 million over 90 days. Analysts’ average rating was “Moderate Buy,” with a consensus price target of $125.12.

Northeast Investment Management purchased a new position in shares of Wayfair Inc. (NYSE:W - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,905 shares of the company's stock, valued at approximately $1,939,000.

Other hedge funds also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in Wayfair by 69.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 19,758 shares of the company's stock valued at $2,223,000 after buying an additional 8,091 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new stake in shares of Wayfair in the 3rd quarter worth about $53,000. Vise Technologies Inc. increased its position in shares of Wayfair by 7.3% during the third quarter. Vise Technologies Inc. now owns 7,583 shares of the company's stock valued at $778,000 after buying an additional 519 shares during the period. Americana Partners LLC purchased a new position in shares of Wayfair during the third quarter valued at about $251,000. Finally, Parcion Private Wealth LLC bought a new position in Wayfair in the third quarter worth about $709,000. Institutional investors own 89.67% of the company's stock.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 117,000 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the sale, the chief executive officer directly owned 105,137 shares of the company's stock, valued at approximately $11,696,491.25. This represents a 52.67% decrease in their position. The transaction 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, CTO Fiona Tan sold 8,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total transaction of $920,000.00. Following the sale, the chief technology officer owned 196,698 shares in the company, valued at $22,620,270. The trade was a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 677,070 shares of company stock valued at $72,236,934. 18.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on W shares. Jefferies Financial Group reissued a "hold" rating and set a $108.00 price target on shares of Wayfair in a report on Tuesday, August 4th. Royal Bank Of Canada upped their price target on shares of Wayfair from $92.00 to $96.00 and gave the stock a "sector perform" rating in a report on Friday, October 23rd. Weiss Ratings restated a "sell (d-)" rating on shares of Wayfair in a research note on Monday, September 14th. Guggenheim upped their price objective on shares of Wayfair from $100.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Evercore reiterated an "outperform" rating and issued a $130.00 price target on shares of Wayfair in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Wayfair has an average rating of "Moderate Buy" and a consensus target price of $125.12.

Wayfair Trading Up 10.3%

Shares of NYSE:W opened at $122.82 on Thursday. The firm has a market cap of $16.21 billion, a price-to-earnings ratio of 227.18, a P/E/G ratio of 3.84 and a beta of 3.10. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $127.99. The business has a fifty day simple moving average of $105.55 and a 200 day simple moving average of $89.17.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. On average, sell-side analysts forecast that Wayfair Inc. will post 0.97 EPS for the current year.

Trending Headlines about Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair reported Q3 revenue of $3.42 billion, up 9.7% year over year and ahead of estimates. Earnings of $0.93 per share also topped consensus, while coverage described the quarter as the company’s strongest growth period since the pandemic. CNBC report on Wayfair Q3 results
• Positive Sentiment: U.S. revenue rose 11.4% to $3.0 billion, and reports highlighted market-share gains in a sluggish home-furnishings market. Analysts also pointed to stronger profitability, with one report describing the quarter’s margin as Wayfair’s best in six years. Why Wayfair stock is up
• Positive Sentiment: Gordon Haskett upgraded Wayfair from “hold” to “buy” and set a $160 price target, adding to the positive reaction to the earnings report. Gordon Haskett rating information
• Neutral Sentiment: A broad rally in U.S. stocks provided a supportive market backdrop, though Wayfair’s earnings and growth news appear to be the more company-specific drivers. Market rally report
• Negative Sentiment: International revenue declined 2.3% to $380 million, contrasting with U.S. growth and showing that the recovery remains uneven across markets. Wayfair Q3 results release

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.

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