SG Americas Securities LLC Has $15.87 Million Position in Wayfair Inc. $W

Key Points

• SG Americas Securities LLC cut its Wayfair stake by 14.8% in the first quarter, but still held 211,005 shares worth about $15.87 million as of its latest filing.
• Wall Street remains broadly positive on Wayfair, with an average analyst rating of “Moderate Buy” and a consensus price target of $99.68, though several firms recently lowered their targets.
• Wayfair’s latest quarterly results showed revenue of $2.93 billion, topping estimates and rising 7.4% year over year, while earnings per share matched forecasts at $0.26.

SG Americas Securities LLC lessened its holdings in Wayfair Inc. (NYSE:W - Free Report) by 14.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,005 shares of the company's stock after selling 36,601 shares during the period. SG Americas Securities LLC owned 0.16% of Wayfair worth $15,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Webster Bank N. A. acquired a new position in shares of Wayfair in the fourth quarter valued at $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Wayfair during the 4th quarter worth about $33,000. Piper Sandler & CO. acquired a new stake in shares of Wayfair during the 4th quarter worth about $34,000. Havemeyer Place LP bought a new stake in shares of Wayfair during the 4th quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after buying an additional 653 shares during the period. Institutional investors and hedge funds own 89.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group decreased their price target on shares of Wayfair from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. The Goldman Sachs Group set a $79.00 price objective on Wayfair in a report on Friday, May 1st. Mizuho decreased their target price on Wayfair from $110.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. Citigroup lowered their target price on Wayfair from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Finally, Truist Financial set a $99.00 price target on Wayfair in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and an average price target of $99.68.

Key Headlines Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Multiple articles spotlight Wayfair’s 4-day flash sale and deep discounts on bedding, furniture, decor, storage, and outdoor products, which may be boosting shopper interest and supporting revenue growth. Article Title
• Positive Sentiment: Coverage of Wayfair’s “Prime Day” style promotion and fast delivery timing suggests the company is competing effectively on price and convenience, which can help improve conversion rates. Article Title
• Positive Sentiment: Reports describing Wayfair’s stock rebound and a “major furniture shift” may be helping investor sentiment by suggesting improving demand trends in home goods. Article Title
• Neutral Sentiment: Consumer lifestyle pieces featuring discounted products such as lanterns, grills, and sleeper sofas add visibility to Wayfair’s marketplace, but they do not materially change the investment thesis on their own. Article Title

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 6,137 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the sale, the chief executive officer owned 429,137 shares of the company's stock, valued at $33,738,750.94. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total value of $345,790.10. Following the transaction, the insider owned 111,158 shares in the company, valued at approximately $8,024,496.02. This trade represents a 4.13% decrease in their position. 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 sold 244,790 shares of company stock worth $18,959,021. Company insiders own 18.44% of the company's stock.

Wayfair Stock Performance

W stock opened at $93.55 on Friday. Wayfair Inc. has a 52 week low of $49.25 and a 52 week high of $119.98. The company has a market capitalization of $12.35 billion, a PE ratio of -39.98, a price-to-earnings-growth ratio of 4.88 and a beta of 3.02. The company's 50-day simple moving average is $73.10 and its 200 day simple moving average is $84.41.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business's revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Wayfair Inc. will post 0.63 EPS for the current year.

Wayfair Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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