Optas LLC Lowers Stock Holdings in Wayfair Inc. $W

Key Points

• Optas LLC reduced its stake in Wayfair Inc. by 47.4% during the second quarter, leaving it with 4,875 shares valued at approximately $249,000.
• CEO Niraj Shah sold 199,422 shares of Wayfair at an average price of $78.40, decreasing his ownership by 26.82% in the process.
• Wayfair's share price has fluctuated significantly, with a 1-year low of $20.41 and a 1-year high of $91.77, currently trading around $78.78.

Optas LLC lessened its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 47.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,875 shares of the company's stock after selling 4,399 shares during the period. Optas LLC's holdings in Wayfair were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in W. GAMMA Investing LLC grew its position in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares during the period. Parallel Advisors LLC grew its position in Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after acquiring an additional 1,097 shares during the period. Caitong International Asset Management Co. Ltd grew its position 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 valued at $148,000 after acquiring an additional 4,580 shares during the period. Fox Run Management L.L.C. purchased a new stake in Wayfair during the first quarter valued at about $215,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Wayfair during the second quarter valued at about $234,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Price Performance

Shares of NYSE W opened at $78.78 on Friday. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77. The business has a 50-day moving average of $81.08 and a 200-day moving average of $55.63. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of -32.82 and a beta of 3.03.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.33 by $0.54. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the firm posted $0.47 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In related news, CEO Niraj Shah sold 199,422 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,634,684.80. Following the transaction, the chief executive officer owned 544,137 shares in the company, valued at approximately $42,660,340.80. The trade was a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Conine sold 199,473 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the completion of the transaction, the insider owned 544,073 shares in the company, valued at approximately $42,655,323.20. This trade represents a 26.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 923,857 shares of company stock worth $71,090,564. Insiders own 21.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on W shares. Gordon Haskett raised Wayfair from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 4th. Truist Financial boosted their price target on Wayfair from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Zelman & Associates boosted their price target on Wayfair from $85.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group boosted their price target on Wayfair from $91.00 to $102.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, Citigroup upped their target price on Wayfair from $93.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.73.

Wayfair Company 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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