Wayfair Inc. $W Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Holdings

Key Points

• Virginia Retirement Systems cut its Wayfair stake by 68.6% in the third quarter, selling 14,856 shares and retaining 6,800 shares valued at about $697,000. Institutional investors and hedge funds overall own 89.67% of the stock.
• Wayfair’s third-quarter results beat expectations: earnings were $0.93 per share versus $0.80 forecast, while revenue reached $3.42 billion versus $3.38 billion expected, up 9.7% year over year.
• Analysts’ overall view was Moderate Buy, with an average price target of $128.57; ratings included 3 Strong Buy, 15 Buy, 12 Hold, and 1 Sell.

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 68.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,800 shares of the company's stock after selling 14,856 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Wayfair were worth $697,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in W. Fortitude Family Office LLC increased its stake in shares of Wayfair by 144.7% during the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company's stock worth $47,000 after purchasing an additional 272 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Wayfair during the 3rd quarter valued at $82,000. IFP Advisors Inc raised its holdings in shares of Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company's stock valued at $75,000 after purchasing an additional 358 shares in the last quarter. Polaris Financial Partners acquired a new stake in shares of Wayfair in the 3rd quarter valued at $113,000. Finally, ABS Direct Equity Fund LLC acquired a new stake in shares of Wayfair in the 1st quarter valued at $83,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on W. Robert W. Baird increased their target price on shares of Wayfair from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Thursday, October 8th. Truist Financial boosted their price target on Wayfair from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho set a $132.00 price target on Wayfair in a research report on Thursday, October 29th. BMO Capital Markets upped their price target on Wayfair from $105.00 to $115.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 5th. Finally, Zacks Research raised Wayfair from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve 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 $128.57.

Trending Headlines about Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair’s third-quarter results beat estimates: earnings were $0.93 per share versus $0.80 expected, and revenue was $3.42 billion versus $3.38 billion expected. U.S. sales grew 11.4%, with improved advertising leverage and market-share gains contributing to the performance. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Analysts raised targets following the results. Notable moves included UBS to $165 with a Buy rating, Needham to $145 with a Buy rating, and Wells Fargo to $140 with an Overweight rating; Deutsche Bank lifted its target to $140 but maintained Hold. Wayfair analyst coverage
• Neutral Sentiment: CTO Fiona Tan sold 15,000 shares across November 4–5 for about $1.86 million. The sales were made under a pre-arranged Rule 10b5-1 plan, and she retained 181,698 shares, making the transactions a less direct indicator of her near-term view of the stock. SEC Form 4 filing
• Negative Sentiment: Management expects higher holiday advertising spending in the fourth quarter. Although Wayfair forecast high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin, increased marketing costs could weigh on near-term profitability. Wayfair forecasts Q4 growth and adjusted EBITDA margin

Wayfair Stock Down 1.1%

Shares of NYSE:W traded down $1.30 during trading on Friday, reaching $112.08. The stock had a trading volume of 1,644,054 shares, compared to its average volume of 2,011,016. The stock has a fifty day simple moving average of $105.88 and a two-hundred day simple moving average of $89.19. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $127.99. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of -89.67, a P/E/G ratio of 4.07 and a beta of 3.10.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.13. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm earned $0.70 EPS. Wayfair's quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Wayfair Inc. will post 0.97 EPS for the current year.

Insiders Place Their Bets

In other news, Director Steven Conine sold 117,000 shares of the firm'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 sale, the director directly owned 105,073 shares of the company's stock, valued at approximately $11,689,371.25. This trade represents a 52.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 105,137 shares in the company, valued at approximately $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 692,070 shares of company stock valued at $74,096,044 in the last quarter. 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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