Wayfair Inc. $W is Wolf Hill Capital Management LP's 5th Largest Position

Key Points

• Wolf Hill Capital increased its Wayfair stake 98.2% in Q3 to 783,600 shares, making Wayfair roughly 6.4% of the firm's portfolio and its 5th-largest holding (about $70.0M, ~0.60% of Wayfair).
• Insiders Steven Conine and CEO Niraj Shah each sold 150,000 shares on Jan 23 (part of 890,494 shares insiders sold in the last 90 days worth ~$86.5M), cutting their individual ownerships by about 34.16%; insiders still own 21.91% of the company.
• Analysts give Wayfair a consensus rating of Moderate Buy with an average price target of $104.62, while the stock traded at $76.26 mid-day (up 3.4%) and the company has a market cap near $9.97B and a 52-week range of $20.41–$119.98.

Wolf Hill Capital Management LP increased its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 98.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 783,600 shares of the company's stock after purchasing an additional 388,160 shares during the quarter. Wayfair makes up approximately 6.4% of Wolf Hill Capital Management LP's portfolio, making the stock its 5th largest position. Wolf Hill Capital Management LP owned about 0.60% of Wayfair worth $69,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in W. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Wayfair by 29.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company's stock valued at $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Wayfair by 14.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,854 shares of the company's stock worth $913,000 after purchasing an additional 2,296 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Wayfair during the 2nd quarter valued at about $618,000. Prospera Financial Services Inc acquired a new stake in shares of Wayfair during the 2nd quarter valued at about $1,007,000. Finally, ProShare Advisors LLC grew its stake in shares of Wayfair by 12.0% in the 2nd quarter. ProShare Advisors LLC now owns 83,854 shares of the company's stock valued at $4,288,000 after buying an additional 9,012 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Stock Up 3.4%

W stock traded up $2.52 during mid-day trading on Friday, reaching $76.26. 783,897 shares of the stock traded hands, compared to its average volume of 3,707,584. The firm has a market capitalization of $9.97 billion, a PE ratio of -31.41, a P/E/G ratio of 5.56 and a beta of 3.40. The business has a 50-day moving average of $94.64 and a two-hundred day moving average of $93.43. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $119.98.

Insider Buying and Selling

In other news, insider Steven Conine sold 150,000 shares of the company's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the completion of the transaction, the insider directly owned 289,073 shares in the company, valued at $31,471,377.51. The trade was a 34.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $108.87, for a total value of $16,330,500.00. Following the completion of the sale, the chief executive officer directly owned 289,137 shares of the company's stock, valued at $31,478,345.19. This represents a 34.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 890,494 shares of company stock valued at $86,493,261. Insiders own 21.91% of the company's stock.

Analysts Set New Price Targets

W has been the topic of a number of research reports. Wall Street Zen downgraded Wayfair from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Mizuho decreased their target price on shares of Wayfair from $130.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. The Goldman Sachs Group set a $92.00 price target on shares of Wayfair in a research note on Friday, February 20th. Robert W. Baird cut their price target on shares of Wayfair from $98.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Finally, Stifel Nicolaus reduced their price objective on shares of Wayfair from $100.00 to $89.00 and set a "hold" rating for the company in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of "Moderate Buy" and an average price target of $104.62.

Wayfair Company 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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