Quantinno Capital Management LP Lowers Stock Holdings in Wayfair Inc. $W

Quantinno Capital Management LP lowered its position in Wayfair Inc. (NYSE:W) by 2.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 302,332 shares of the company’s stock after selling 8,654 shares during the period. Quantinno Capital Management LP owned about 0.23% of Wayfair worth $22,738,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Covenant Asset Management LLC purchased a new stake in shares of Wayfair during the fourth quarter worth about $4,403,000. North Dakota State Investment Board purchased a new position in Wayfair in the 4th quarter worth approximately $3,636,000. Vanguard Group Inc. lifted its holdings in Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares in the last quarter. M&T Bank Corp boosted its stake in Wayfair by 3,713.2% in the 4th quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock worth $16,920,000 after purchasing an additional 164,086 shares during the period. Finally, Legato Capital Management LLC bought a new position in Wayfair in the 4th quarter worth approximately $1,327,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on W shares. Truist Financial set a $99.00 price objective on shares of Wayfair in a research report on Monday, June 8th. Wells Fargo & Company dropped their target price on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Jefferies Financial Group cut their target price on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. TD Cowen reduced their price target on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Wayfair in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.64.

Wayfair Trading Down 5.1%

Shares of NYSE W opened at $85.23 on Friday. The firm’s 50-day moving average price is $84.02 and its 200-day moving average price is $82.38. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of -36.42, a P/E/G ratio of 4.56 and a beta of 2.96. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Wayfair Inc. will post 0.62 EPS for the current fiscal year.

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.