Wayfair Inc. $W Shares Bought by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Wayfair stake by 10.8% in the fourth quarter, buying 185,897 more shares and bringing its total holdings to 1,903,219 shares worth about $191.1 million.
• Wall Street remains cautiously positive on Wayfair, with a consensus rating of Moderate Buy and an average price target of $99.89, even as several analysts cut their individual targets.
• Wayfair reported Q1 revenue of $2.93 billion, topping expectations and rising 7.4% year over year, while EPS of $0.26 matched estimates; however, the stock was down 4.0% and insider selling continued in recent months.

Geode Capital Management LLC boosted its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,903,219 shares of the company's stock after purchasing an additional 185,897 shares during the period. Geode Capital Management LLC owned about 1.46% of Wayfair worth $191,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital World Investors lifted its position in Wayfair by 4.1% during the third quarter. Capital World Investors now owns 13,374,574 shares of the company's stock valued at $1,194,750,000 after purchasing an additional 521,240 shares during the period. Vanguard Group Inc. lifted its position in Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock valued at $967,426,000 after purchasing an additional 72,707 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Wayfair by 826.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company's stock valued at $251,648,000 after purchasing an additional 2,512,854 shares during the period. AQR Capital Management LLC lifted its position in Wayfair by 5.8% during the third quarter. AQR Capital Management LLC now owns 1,647,726 shares of the company's stock valued at $147,191,000 after purchasing an additional 89,789 shares during the period. Finally, Holocene Advisors LP lifted its position in Wayfair by 351.9% during the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company's stock valued at $66,178,000 after purchasing an additional 1,007,676 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of Wayfair from $125.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada decreased their target price on shares of Wayfair from $92.00 to $76.00 and set a "sector perform" rating for the company in a research report on Thursday, April 30th. Wedbush decreased their target price on shares of Wayfair from $100.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group set a $79.00 price objective on shares of Wayfair in a report on Friday, May 1st. Finally, Citigroup lowered their target price on shares of Wayfair from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.89.

Wayfair Stock Down 4.0%

NYSE:W opened at $69.45 on Thursday. Wayfair Inc. has a 52 week low of $42.63 and a 52 week high of $119.98. The stock has a market capitalization of $9.17 billion, a PE ratio of -29.68, a price-to-earnings-growth ratio of 3.80 and a beta of 3.02. The stock's 50-day moving average price is $70.89 and its 200-day moving average price is $86.96.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts' consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same period last year, the firm earned $0.10 EPS. The company's quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Niraj Shah sold 6,137 shares of the business's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the sale, the chief executive officer owned 429,137 shares of the company's stock, valued at $33,738,750.94. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 7,139 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $78.55, for a total transaction of $560,768.45. Following the sale, the director directly owned 429,073 shares of the company's stock, valued at $33,703,684.15. This represents a 1.64% 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. Insiders have sold 463,785 shares of company stock worth $35,864,224 in the last ninety days. Company insiders own 18.44% of the company's stock.

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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