Y Intercept Hong Kong Ltd Decreases Stake in Wayfair Inc. $W

Y Intercept Hong Kong Ltd lessened its position in shares of Wayfair Inc. (NYSE:W) by 88.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,299 shares of the company’s stock after selling 73,374 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Wayfair were worth $699,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Covenant Asset Management LLC purchased a new position in Wayfair in the fourth quarter valued at $4,403,000. North Dakota State Investment Board purchased a new stake in Wayfair during the 4th quarter worth about $3,636,000. Divisadero Street Capital Management LP purchased a new stake in Wayfair during the 3rd quarter worth about $1,929,000. Vanguard Group Inc. boosted its position in shares of Wayfair by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after acquiring an additional 72,707 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of Wayfair by 310.8% during the 3rd quarter. Algert Global LLC now owns 111,457 shares of the company’s stock worth $9,956,000 after acquiring an additional 84,327 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 113,863 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 435,274 shares in the company, valued at approximately $33,729,382.26. This represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value 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 represents a 20.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 245,925 shares of company stock worth $19,183,749. 18.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on W shares. The Goldman Sachs Group set a $79.00 target price on Wayfair in a research report on Friday, May 1st. Needham & Company LLC dropped their price target on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Canaccord Genuity Group dropped their price target on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada cut 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, April 30th. Finally, Truist Financial set a $99.00 price objective on shares of Wayfair in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.68.

Wayfair Trading Down 3.2%

W stock opened at $86.33 on Tuesday. The company has a market capitalization of $11.40 billion, a P/E ratio of -36.90, a PEG ratio of 4.69 and a beta of 2.96. Wayfair Inc. has a twelve month low of $53.13 and a twelve month high of $119.98. The business has a 50 day simple moving average of $76.82 and a 200-day simple moving average of $83.86.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts predict that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

About Wayfair

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.