Wayfair Inc. (NYSE:W) Stake Cut by Spruce House Investment Management LLC

Spruce House Investment Management LLC reduced its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,180,385 shares of the company's stock after selling 456,615 shares during the period. Wayfair comprises about 3.6% of Spruce House Investment Management LLC's holdings, making the stock its 5th largest holding. Spruce House Investment Management LLC owned about 1.74% of Wayfair worth $96,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in Wayfair in the fourth quarter valued at $6,799,000. Ameritas Advisory Services LLC purchased a new position in Wayfair in the fourth quarter valued at $229,000. Nisa Investment Advisors LLC boosted its holdings in Wayfair by 5.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company's stock valued at $1,982,000 after purchasing an additional 2,250 shares during the period. SG Americas Securities LLC boosted its holdings in Wayfair by 277.4% in the fourth quarter. SG Americas Securities LLC now owns 12,591 shares of the company's stock valued at $558,000 after purchasing an additional 9,255 shares during the period. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Wayfair in the fourth quarter valued at $220,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on W. Deutsche Bank Aktiengesellschaft lowered Wayfair from a "buy" rating to a "hold" rating and set a $25.00 target price for the company. in a report on Monday, April 14th. Wedbush raised Wayfair to a "hold" rating in a report on Thursday, May 1st. Stifel Nicolaus decreased their price target on Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Citigroup lifted their price target on Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Wayfair from $63.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.83.

Wayfair Stock Down 2.4%

W stock traded down $0.96 during trading on Monday, hitting $38.65. The company had a trading volume of 4,296,228 shares, compared to its average volume of 4,735,223. The firm has a market cap of $4.90 billion, a PE ratio of -9.61 and a beta of 2.93. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $68.87. The firm has a 50-day moving average price of $31.13 and a 200-day moving average price of $39.94.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) EPS. Sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In other news, CFO Kate Gulliver sold 19,296 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the sale, the chief financial officer now owns 144,474 shares of the company's stock, valued at $4,575,491.58. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the sale, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,330 shares of company stock worth $4,767,406 in the last quarter. Company insiders own 21.91% of the company's stock.

Wayfair Profile

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.