Wayfair Inc. $W Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Wayfair Inc. by 21.1% in the first quarter, selling 138,875 shares and holding approximately 0.41% of the company valued at $16,591,000.
• Wayfair's recent earnings report revealed earnings per share of $0.87, surpassing estimates of $0.33, with a year-over-year revenue increase of 5.0%.
• Analysts have positively rated Wayfair, with multiple firms raising their price targets and a consensus average rating of Moderate Buy among research analysts.

Wellington Management Group LLP lessened its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517,992 shares of the company's stock after selling 138,875 shares during the period. Wellington Management Group LLP owned approximately 0.41% of Wayfair worth $16,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in W. True Wealth Design LLC increased its holdings in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after buying an additional 381 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Wayfair by 15,266.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company's stock worth $148,000 after acquiring an additional 4,580 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Wayfair during the first quarter worth about $215,000. Finally, Corient IA LLC acquired a new position in Wayfair during the first quarter worth about $240,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wall Street Analyst Weigh In

W has been the subject of several analyst reports. Loop Capital reissued a "sell" rating and issued a $35.00 price target on shares of Wayfair in a research note on Wednesday, May 14th. Citigroup raised shares of Wayfair from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $32.00 to $93.00 in a research report on Tuesday, August 5th. Truist Financial set a $40.00 target price on shares of Wayfair in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Wayfair from $75.00 to $82.00 and gave the stock an "overweight" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group raised their price objective on shares of Wayfair from $74.00 to $91.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and a consensus price target of $69.19.

Insider Buying and Selling at Wayfair

In related news, CEO Niraj Shah sold 199,422 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares in the company, valued at approximately $42,660,340.80. This represents a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 199,473 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the completion of the transaction, the insider owned 544,073 shares of the company's stock, valued at $42,655,323.20. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,240,204 shares of company stock valued at $81,706,986 over the last quarter. Insiders own 21.91% of the company's stock.

Wayfair Stock Down 1.3%

Shares of Wayfair stock traded down $0.95 during trading on Friday, reaching $74.51. The company's stock had a trading volume of 2,277,597 shares, compared to its average volume of 5,314,146. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $81.94. The company has a market capitalization of $9.66 billion, a P/E ratio of -31.05 and a beta of 2.92. The business has a 50 day moving average price of $64.80 and a 200-day moving average price of $46.26.

Wayfair (NYSE:W - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

About Wayfair

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.