Wayfair Inc. $W Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford trimmed its stake in Wayfair by 3.5% in Q4, selling 147,107 shares and ending the quarter with 4,002,104 shares (about 3.07% of the company) valued at roughly $401.9 million.
• Wayfair beat expectations for the quarter with $0.85 EPS vs. $0.64 expected and $3.34 billion in revenue, but the company remains unprofitable (negative ROE and net margin) and analysts forecast -$2.54 EPS for the current year with a consensus price target of $104.62.
• Significant insider selling occurred recently — including CEO Niraj Shah's sale of 150,000 shares and CTO Fiona Tan's sale of 9,000 shares — with insiders selling 772,785 shares (~$69.1 million) over the last quarter while still owning 18.44% of the stock.

Baillie Gifford & Co. cut its stake in Wayfair Inc. (NYSE:W - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,002,104 shares of the company's stock after selling 147,107 shares during the quarter. Baillie Gifford & Co. owned about 3.07% of Wayfair worth $401,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC increased its stake in shares of Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company's stock worth $25,000 after acquiring an additional 282 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company's stock worth $29,000 after acquiring an additional 233 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company's stock worth $29,000 after acquiring an additional 200 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Wayfair during the 4th quarter worth $33,000. Finally, Larson Financial Group LLC grew its holdings in shares of Wayfair by 30.0% during the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company's stock worth $46,000 after purchasing an additional 120 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Price Performance

Shares of Wayfair stock opened at $71.66 on Monday. The business has a 50-day moving average of $79.19 and a 200 day moving average of $92.35. Wayfair Inc. has a 12 month low of $24.41 and a 12 month high of $119.98. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of -29.49, a price-to-earnings-growth ratio of 5.56 and a beta of 3.30.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.21. Wayfair had a negative return on equity of 1.52% and a negative net margin of 2.51%.The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same period last year, the business posted ($0.25) EPS. Wayfair's revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on W shares. Truist Financial lowered their price target on Wayfair from $120.00 to $105.00 and set a "buy" rating for the company in a report on Friday, February 20th. Mizuho lowered their price target on Wayfair from $130.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th. Evercore set a $100.00 price target on Wayfair in a report on Friday, February 20th. Wedbush lowered their price target on Wayfair from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Finally, Citigroup lowered their price target on Wayfair from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and a consensus price target of $104.62.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 9,000 shares of the firm's stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $119.00, for a total transaction of $1,071,000.00. Following the completion of the transaction, the chief technology officer directly owned 200,328 shares in the company, valued at $23,839,032. This trade represents a 4.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Niraj Shah sold 150,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 289,137 shares of the company's stock, valued at $31,478,345.19. This trade represents a 34.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 772,785 shares of company stock valued at $69,122,942. Insiders own 18.44% of the company's stock.

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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