First Trust Advisors LP Sells 13,526 Shares of Wayfair Inc. $W

First Trust Advisors LP cut its holdings in shares of Wayfair Inc. (NYSE:W) by 9.1% in the 1st quarter, HoldingsChannel reports. The firm owned 135,044 shares of the company’s stock after selling 13,526 shares during the quarter. First Trust Advisors LP’s holdings in Wayfair were worth $10,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. The trade was 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 owned by company insiders.

Wayfair Stock Down 5.1%

W opened at $85.23 on Friday. The firm has a 50-day moving average price of $84.02 and a 200-day moving average price of $82.38. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of -36.42, a PEG ratio of 4.83 and a beta of 2.96.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on W shares. Canaccord Genuity Group reduced their target price on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Weiss Ratings upgraded Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC reduced their price objective on Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $78.00 target price on shares of Wayfair in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.64.

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.