Vanguard Group Inc. Has $285.01 Million Position in Wayfair Inc. $W

Key Points

• Vanguard Group Inc. reduced its stake in Wayfair Inc. by 4.5% in the first quarter, holding 8,898,236 shares worth approximately $285 million after selling 417,101 shares.
• Insiders at Wayfair, including CEO Niraj Shah, sold significant amounts of stock, with Shah selling 199,422 shares valued at $15.6 million, representing a 26.82% decrease in his ownership position.
• Wayfair's quarterly earnings surpassed expectations, reporting $0.87 earnings per share on revenue of $3.27 billion, showing a 5% year-over-year increase.

Vanguard Group Inc. cut its holdings in Wayfair Inc. (NYSE:W - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,898,236 shares of the company's stock after selling 417,101 shares during the quarter. Vanguard Group Inc. owned 7.01% of Wayfair worth $285,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Southpoint Capital Advisors LP grew its stake in Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after purchasing an additional 1,400,000 shares during the period. Capital World Investors increased its stake in shares of Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after buying an additional 782,757 shares during the period. Benchstone Capital Management LP purchased a new position in shares of Wayfair in the fourth quarter worth $16,149,000. Two Sigma Advisers LP grew its position in shares of Wayfair by 195.6% in the 4th quarter. Two Sigma Advisers LP now owns 412,000 shares of the company's stock worth $18,260,000 after buying an additional 272,600 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new stake in shares of Wayfair in the 4th quarter worth approximately $8,292,000. Institutional investors own 89.67% of the company's stock.

Insiders Place Their Bets

In other news, CEO Niraj Shah sold 199,422 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the sale, the chief executive officer owned 544,137 shares of the company's stock, valued at approximately $42,660,340.80. The trade was a 26.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 199,473 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the completion of the sale, the insider directly owned 544,073 shares of the company's stock, valued at approximately $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,215,789 shares of company stock valued at $73,975,995. Company insiders own 21.91% of the company's stock.

Wayfair Trading Down 4.4%

Shares of NYSE W traded down $3.4830 during trading on Thursday, reaching $76.4770. 4,022,366 shares of the company traded hands, compared to its average volume of 5,122,848. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $81.94. The stock has a market cap of $9.92 billion, a P/E ratio of -31.83 and a beta of 2.92. The firm's fifty day simple moving average is $61.06 and its 200 day simple moving average is $44.86.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

W has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 price objective (up from $38.00) on shares of Wayfair in a research report on Tuesday, August 5th. Guggenheim dropped their price target on Wayfair from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Zelman & Associates boosted their price target on Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Piper Sandler reissued an "overweight" rating and set a $95.00 price target on shares of Wayfair in a report on Monday, August 4th. Finally, Jefferies Financial Group boosted their target price on Wayfair from $74.00 to $91.00 and gave the stock a "buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.65.

Wayfair Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.