Wayfair Inc. $W Stock Position Trimmed by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors trimmed its Wayfair position by 3.1% in the third quarter, selling 12,900 shares and retaining 403,600 shares valued at approximately $41.4 million. Institutional investors collectively own 89.67% of Wayfair.
• Analysts maintain a generally positive outlook, with Wayfair receiving a “Moderate Buy” consensus rating and an average price target of $121.04. Recent target increases included Guggenheim’s move to $135 and Wedbush’s move to $125.
• Wayfair reported quarterly revenue of $3.52 billion and earnings of $0.95 per share, exceeding analyst estimates, while revenue increased 7.5% year over year. However, insiders sold 676,570 shares worth about $72.2 million over the past 90 days.

Hennessy Advisors Inc. decreased its position in Wayfair Inc. (NYSE:W - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,600 shares of the company's stock after selling 12,900 shares during the quarter. Wayfair accounts for about 1.5% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 10th largest holding. Hennessy Advisors Inc. owned approximately 0.31% of Wayfair worth $41,393,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in shares of Wayfair by 144.7% in the third quarter. Fortitude Family Office LLC now owns 460 shares of the company's stock valued at $47,000 after purchasing an additional 272 shares during the period. Reyes Financial Architecture Inc. purchased a new stake in Wayfair during the 3rd quarter worth $82,000. IFP Advisors Inc increased its stake in Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company's stock worth $75,000 after buying an additional 358 shares during the period. Polaris Financial Partners purchased a new stake in Wayfair during the 3rd quarter worth $113,000. Finally, ABS Direct Equity Fund LLC purchased a new stake in Wayfair during the 1st quarter worth $83,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wall Street Analysts Forecast Growth

W has been the subject of a number of analyst reports. Wedbush upped their price objective on shares of Wayfair from $85.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and set a $108.00 target price on shares of Wayfair in a research report on Tuesday, August 4th. TD Cowen boosted their price target on Wayfair from $75.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Wayfair from $92.00 to $96.00 and gave the stock a "sector perform" rating in a research note on Friday, October 23rd. Finally, Guggenheim increased their price target on Wayfair from $100.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and an average price target of $121.04.

Wayfair Price Performance

W opened at $115.93 on Monday. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $120.90. The stock has a market capitalization of $15.30 billion, a PE ratio of -47.13, a P/E/G ratio of 4.17 and a beta of 3.10. The firm's fifty day moving average price is $104.78 and its 200 day moving average price is $89.19.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. On average, equities research analysts forecast that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 117,000 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the sale, the chief executive officer directly owned 105,137 shares of the company's stock, valued at $11,696,491.25. The trade was a 52.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 117,000 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the sale, the director owned 105,073 shares in the company, valued at $11,689,371.25. The trade was a 52.69% 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. Over the last 90 days, insiders have sold 676,570 shares of company stock valued at $72,176,934. Insiders own 18.44% of the company's stock.

Wayfair Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.

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