Wayfair Inc. $W Stock Holdings Reduced by Goodnow Investment Group LLC

Key Points

• Goodnow Investment Group trimmed its Wayfair stake by 2.6% in the fourth quarter, though the fund still held 632,952 shares valued at about $63.6 million, making Wayfair its fourth-largest position.
• Insider selling was notable, with CEO Niraj Shah and insider Jon Blotner both selling shares recently; insiders have sold 463,785 shares worth $35.9 million over the past three months.
• Wayfair’s latest quarter showed revenue growth and in-line earnings: EPS of $0.26 matched expectations, revenue rose 7.4% year over year to $2.93 billion, and the stock was up 7.2% on the day of the report.

Goodnow Investment Group LLC lowered its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 632,952 shares of the company's stock after selling 16,696 shares during the quarter. Wayfair makes up about 5.9% of Goodnow Investment Group LLC's holdings, making the stock its 4th biggest position. Goodnow Investment Group LLC owned 0.49% of Wayfair worth $63,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of W. Covenant Asset Management LLC acquired a new position in Wayfair in the fourth quarter valued at $4,403,000. Capital World Investors grew its holdings in shares of Wayfair by 4.1% during the third 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 during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Wayfair during the third quarter worth about $2,635,000. Quantbot Technologies LP acquired a new stake in shares of Wayfair during the third quarter worth about $1,958,000. Finally, North Dakota State Investment Board purchased a new stake in shares of Wayfair in the 4th quarter valued at about $3,636,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Insider Activity at Wayfair

In other news, CEO Niraj Shah sold 113,863 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer owned 435,274 shares in the company, valued at approximately $33,729,382.26. This trade represents a 20.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of Wayfair stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total transaction of $345,790.10. Following the completion of the sale, the insider directly owned 111,158 shares in the company, valued at approximately $8,024,496.02. The trade was a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 463,785 shares of company stock worth $35,864,224 in the last three months. Insiders own 18.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Guggenheim restated a "buy" rating and set a $100.00 price target on shares of Wayfair in a research note on Wednesday, May 20th. Wells Fargo & Company reduced their price objective on Wayfair from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded Wayfair from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 2nd. Jefferies Financial Group cut their target price on shares of Wayfair from $86.00 to $70.00 and set a "hold" rating on the stock in a report on Thursday, April 30th. Finally, Robert W. Baird set a $76.00 price target on shares of Wayfair in a research report on Monday, May 4th. One equities 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 given a Sell rating to the company. According to MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and an average target price of $99.68.

Wayfair Stock Up 7.2%

W opened at $83.20 on Tuesday. Wayfair Inc. has a 52 week low of $46.59 and a 52 week high of $119.98. The business has a 50 day moving average price of $70.76 and a two-hundred day moving average price of $85.37. The company has a market cap of $10.98 billion, a PE ratio of -35.55, a P/E/G ratio of 4.08 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.10 EPS. As a group, sell-side analysts expect that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.