Wayfair Inc. $W Shares Sold by Pinnbrook Capital Management LP

Key Points

• Pinnbrook Capital Management cut its Wayfair stake by 76.1% in the fourth quarter, leaving it with 16,364 shares worth about $1.64 million.
• Wayfair continues to draw attention from analysts and institutions, with hedge funds owning 89.67% of the stock and analysts maintaining a Moderate Buy consensus with an average price target of $99.89.
• The company has seen notable insider selling, including large share sales by Director Steven Conine and CEO Niraj Shah, while recent earnings showed Q1 revenue up 7.4% year over year and EPS matching estimates.

Pinnbrook Capital Management LP decreased its holdings in Wayfair Inc. (NYSE:W - Free Report) by 76.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,364 shares of the company's stock after selling 51,994 shares during the quarter. Pinnbrook Capital Management LP's holdings in Wayfair were worth $1,643,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Great Lakes Advisors LLC acquired a new stake in shares of Wayfair in the 3rd quarter worth $3,946,000. Capital World Investors boosted its position in shares of Wayfair by 4.1% in the 3rd quarter. Capital World Investors now owns 13,374,574 shares of the company's stock worth $1,194,750,000 after purchasing an additional 521,240 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Wayfair in the 3rd quarter worth $1,107,000. WINTON GROUP Ltd acquired a new stake in shares of Wayfair in the 3rd quarter worth $2,635,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Wayfair in the 3rd quarter worth $50,553,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair is featured in multiple Memorial Day deal roundups, including discounted air conditioners, outdoor furniture, grills, mattresses, and storage items, which may signal strong seasonal traffic and promotional momentum. Air Conditioners Are Up to 69% Off Ahead of Summer at Amazon, Lowe’s, and Wayfair
• Positive Sentiment: Articles spotlighting Wayfair’s large-ticket markdowns, such as a $1,143 outdoor set cut to $376 and an $800 grill discounted to $276, may reinforce the view that the company is successfully using promotions to stimulate higher-value purchases. Wayfair’s $1,143 outdoor furniture set is on sale for only $376 this week
• Positive Sentiment: Additional deal coverage on storage, Father’s Day gifts, and discounted furniture suggests Wayfair is staying highly visible to shoppers and may benefit from improved conversion rates during a key retail period. Not Baskets: Wayfair Has A Storage Find That'll Organize Both Shoes And Blankets
• Neutral Sentiment: Wayfair’s presentation at J.P. Morgan’s annual technology, media and communications conference keeps the company in front of investors, but the transcript itself does not appear to include a major new catalyst. Wayfair Inc. (W) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: The heavy reliance on discounts also highlights ongoing pricing pressure, which could help demand but weigh on margins if promotions remain deep for too long.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Robert W. Baird set a $76.00 price objective on Wayfair in a research report on Monday, May 4th. Needham & Company LLC lowered their price target on Wayfair from $125.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wayfair in a research report on Monday, April 20th. Morgan Stanley set a $110.00 price target on Wayfair in a research report on Friday, May 1st. Finally, UBS Group lowered their price target on Wayfair from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $99.89.

Insider Transactions at Wayfair

In other Wayfair news, Director Steven Conine sold 112,861 shares of Wayfair stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the completion of the transaction, the director owned 436,212 shares in the company, valued at approximately $33,806,430. This trade represents a 20.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of Wayfair stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total value of $8,823,243.87. Following the transaction, the chief executive officer owned 435,274 shares of the company's stock, valued at $33,729,382.26. The trade was a 20.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 703,785 shares of company stock valued at $54,004,173 in the last quarter. Company insiders own 18.44% of the company's stock.

Wayfair Stock Performance

Shares of W opened at $66.23 on Friday. The stock has a 50-day moving average of $71.79 and a two-hundred day moving average of $89.16. Wayfair Inc. has a one year low of $34.46 and a one year high of $119.98. The stock has a market cap of $8.74 billion, a P/E ratio of -28.30, a P/E/G ratio of 3.69 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting analysts' consensus estimates of $0.26. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Analysts predict that Wayfair Inc. will post 0.58 EPS for the current fiscal 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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