Wellington Management Group LLP Decreases Stock Holdings in Wayfair Inc. $W

Wellington Management Group LLP decreased its stake in Wayfair Inc. (NYSE:W) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,259,111 shares of the company’s stock after selling 197,587 shares during the quarter. Wellington Management Group LLP owned approximately 1.71% of Wayfair worth $208,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Wayfair in the 2nd quarter valued at about $2,874,000. Handelsbanken Fonder AB boosted its holdings in Wayfair by 10.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 34,500 shares of the company’s stock worth $3,188,000 after buying an additional 3,400 shares during the last quarter. Chemistry Wealth Management LLC increased its stake in Wayfair by 5.9% during the 2nd quarter. Chemistry Wealth Management LLC now owns 45,368 shares of the company’s stock worth $4,193,000 after buying an additional 2,534 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Wayfair by 42.2% during the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after acquiring an additional 242,791 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Wayfair by 34.5% during the second quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock valued at $315,000 after acquiring an additional 874 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Down 4.3%

Shares of NYSE:W opened at $99.32 on Tuesday. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98. The stock has a market cap of $13.11 billion, a P/E ratio of -40.37, a PEG ratio of 4.17 and a beta of 2.99. The business has a fifty day moving average of $95.80 and a two-hundred day moving average of $81.81.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. On average, equities analysts anticipate that Wayfair Inc. will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on W. Mizuho reduced their price objective on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Zacks Research raised shares of Wayfair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Morgan Stanley reiterated an “overweight” rating on shares of Wayfair in a research report on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and issued a $108.00 price target on shares of Wayfair in a research note on Tuesday, August 4th. Finally, Citigroup boosted their price target on shares of Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.89.

Insiders Place Their Bets

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 shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the sale, the insider owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, CEO Niraj Shah sold 69,000 shares of Wayfair stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the sale, the chief executive officer directly owned 360,137 shares in the company, valued at approximately $37,223,760.32. The trade was a 16.08% 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. Insiders have sold 143,925 shares of company stock valued at $14,834,198 over the last ninety days. 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.