Northern Trust Corp Has $14.39 Million Holdings in Wayfair Inc. $W

Key Points

• Northern Trust Corp reduced its stake in Wayfair Inc. by 3.1%, holding approximately 0.35% of the company worth $14.39 million after selling 14,205 shares.
• Wayfair's stock has recently seen multiple price target upgrades from analysts, with UBS raising it to $91.00 and Citigroup to $93.00, reflecting growing confidence in the company's performance.
• In the latest earnings report, Wayfair beat expectations with $0.87 earnings per share for the quarter, surpassing analysts' predictions and reporting a revenue increase of 5% year-over-year.

Northern Trust Corp cut its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 449,252 shares of the company's stock after selling 14,205 shares during the period. Northern Trust Corp owned approximately 0.35% of Wayfair worth $14,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Algert Global LLC bought a new position in Wayfair during the first quarter worth about $869,000. Corient IA LLC bought a new position in Wayfair during the first quarter worth about $240,000. Fox Run Management L.L.C. bought a new position in Wayfair during the first quarter worth about $215,000. Caitong International Asset Management Co. Ltd lifted its holdings in Wayfair by 15,266.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company's stock worth $148,000 after acquiring an additional 4,580 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Wayfair by 0.3% during the first quarter. Swiss National Bank now owns 183,300 shares of the company's stock worth $5,871,000 after acquiring an additional 600 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on W shares. BMO Capital Markets restated a "market perform" rating and issued a $68.00 price target (up from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Gordon Haskett upgraded Wayfair from a "hold" rating to a "moderate buy" rating in a report on Monday, August 4th. UBS Group boosted their price target on Wayfair from $80.00 to $91.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Citigroup upgraded Wayfair from a "neutral" rating to a "buy" rating and boosted their price target for the company from $32.00 to $93.00 in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their price target on Wayfair from $75.00 to $82.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Two 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 given a Sell rating to the company's stock. According to MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and an average price target of $69.19.

Wayfair Stock Performance

NYSE:W opened at $79.21 on Thursday. The stock's 50-day simple moving average is $66.43 and its 200 day simple moving average is $46.88. The company has a market cap of $10.27 billion, a P/E ratio of -33.00 and a beta of 2.95. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $81.94.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. Wayfair's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. As a group, equities analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the transaction, the chief executive officer owned 459,137 shares of the company's stock, valued at $36,763,099.59. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 459,073 shares in the company, valued at approximately $36,757,975.11. This trade represents a 15.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,240,204 shares of company stock worth $81,706,986. 21.91% of the stock is owned by company 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.

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