Wayfair Inc. $W Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in Wayfair Inc. (NYSE:W) by 88.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors also recently bought and sold shares of W. Webster Bank N. A. purchased a new position in Wayfair during the 4th quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Wayfair in the 4th quarter worth $33,000. Piper Sandler & CO. purchased a new stake in shares of Wayfair in the fourth quarter valued at about $34,000. Havemeyer Place LP acquired a new position in shares of Wayfair during the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after acquiring an additional 653 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Down 3.2%

W stock opened at $86.33 on Tuesday. The company’s 50-day moving average price is $76.82 and its 200 day moving average price is $83.86. Wayfair Inc. has a 52 week low of $53.13 and a 52 week high of $119.98. The company has a market cap of $11.40 billion, a P/E ratio of -36.90, a P/E/G ratio of 4.69 and a beta of 2.96.

Wayfair (NYSE:W) last issued its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (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 company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on W shares. UBS Group reduced their price objective on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Jefferies Financial Group cut their target price on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Morgan Stanley set a $110.00 price target on Wayfair in a research note on Friday, May 1st. Needham & Company LLC dropped their price objective on Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Mizuho dropped their price objective on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $99.68.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 6,137 shares of Wayfair stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the transaction, the chief executive officer directly owned 429,137 shares of the company’s stock, valued at approximately $33,738,750.94. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 7,139 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.55, for a total value of $560,768.45. Following the sale, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 245,925 shares of company stock worth $19,183,749 in the last quarter. Company insiders own 18.44% of the company’s stock.

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.