WT Wealth Management Buys New Shares in Wayfair Inc. $W

Key Points

• WT Wealth Management established a new position in Wayfair in Q4, buying 15,707 shares worth approximately $1.577 million.
• Significant insider selling: co‑founders Niraj Shah and Steven Conine each sold ~113k shares on April 23 under Rule 10b5‑1 plans, and insiders have sold 703,785 shares (~$54.0M) in the past 90 days while owning 18.44% of the stock.
• Analysts have trimmed targets but the stock retains a consensus rating of "Moderate Buy" with a consensus target of $97, while Wayfair trades near $64.84 and shows a negative P/E ratio and elevated volatility.

WT Wealth Management bought a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,707 shares of the company's stock, valued at approximately $1,577,000.

Several other large investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC boosted its stake in shares of Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company's stock valued at $25,000 after buying an additional 282 shares during the period. Webster Bank N. A. acquired a new stake in Wayfair in the fourth quarter valued at approximately $30,000. True Wealth Design LLC lifted its stake in Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company's stock worth $29,000 after acquiring an additional 233 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company's stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Wayfair during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Price Performance

NYSE W opened at $64.84 on Tuesday. The company has a fifty day moving average of $75.42 and a two-hundred day moving average of $91.62. The company has a market capitalization of $8.48 billion, a PE ratio of -27.71, a P/E/G ratio of 5.49 and a beta of 3.02. Wayfair Inc. has a 1 year low of $29.68 and a 1 year high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. On average, research analysts expect that Wayfair Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Wayfair from $92.00 to $76.00 and set a "sector perform" rating on the stock in a report on Thursday. TD Cowen dropped their target price on Wayfair from $88.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday. Mizuho cut their price target on Wayfair from $130.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Truist Financial decreased their price target on Wayfair from $120.00 to $105.00 and set a "buy" rating for the company in a report on Friday, February 20th. Finally, Wall Street Zen downgraded Wayfair from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.00.

Insider Activity at Wayfair

In other news, Director Steven Conine sold 112,861 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the transaction, the director directly owned 436,212 shares in the company, valued at approximately $33,806,430. This trade represents a 20.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of Wayfair stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the completion of the transaction, the chief executive officer directly owned 435,274 shares in the company, valued at $33,729,382.26. The trade was a 20.73% 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. In the last ninety days, insiders have sold 703,785 shares of company stock worth $54,004,173. 18.44% of the stock is currently owned by corporate insiders.

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.