Wayfair Inc. $W Shares Newly Bought by Northeast Investment Management

Northeast Investment Management bought a new stake in Wayfair Inc. (NYSE:W) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 18,905 shares of the company’s stock, valued at approximately $1,939,000.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after purchasing an additional 296,233 shares in the last quarter. Atreides Management LP increased its holdings in shares of Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after buying an additional 560,133 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Wayfair by 46.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after buying an additional 328,358 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Wayfair by 42.2% in 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, Bank of New York Mellon Corp raised its stake in shares of Wayfair by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after acquiring an additional 5,586 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Steven Conine sold 117,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the completion of the transaction, the director directly owned 105,073 shares in the company, valued at $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Fiona Tan sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total value of $920,000.00. Following the completion of the transaction, the chief technology officer owned 196,698 shares in the company, valued at $22,620,270. This represents a 3.91% 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 sold 677,070 shares of company stock worth $72,236,934 in the last three months. Corporate insiders own 18.44% of the company’s stock.

Wayfair Stock Up 10.3%

W opened at $122.82 on Thursday. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 227.18, a PEG ratio of 3.84 and a beta of 3.10. The firm has a 50-day moving average price of $105.55 and a 200-day moving average price of $89.17. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $127.99.

Wayfair (NYSE:W) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. On average, sell-side analysts expect that Wayfair Inc. will post 0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on W. JPMorgan Chase & Co. increased their price target on Wayfair from $125.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $120.00 price objective on shares of Wayfair in a research report on Wednesday, August 5th. Gordon Haskett raised Wayfair from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Wednesday. Robert W. Baird increased their target price on Wayfair from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Finally, BMO Capital Markets raised their target price on Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.12.

Key Headlines Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair reported Q3 revenue of $3.42 billion, up 9.7% year over year and ahead of estimates. Earnings of $0.93 per share also topped consensus, while coverage described the quarter as the company’s strongest growth period since the pandemic. CNBC report on Wayfair Q3 results
• Positive Sentiment: U.S. revenue rose 11.4% to $3.0 billion, and reports highlighted market-share gains in a sluggish home-furnishings market. Analysts also pointed to stronger profitability, with one report describing the quarter’s margin as Wayfair’s best in six years. Why Wayfair stock is up
• Positive Sentiment: Gordon Haskett upgraded Wayfair from “hold” to “buy” and set a $160 price target, adding to the positive reaction to the earnings report. Gordon Haskett rating information
• Neutral Sentiment: A broad rally in U.S. stocks provided a supportive market backdrop, though Wayfair’s earnings and growth news appear to be the more company-specific drivers. Market rally report
• Negative Sentiment: International revenue declined 2.3% to $380 million, contrasting with U.S. growth and showing that the recovery remains uneven across markets. Wayfair Q3 results release

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.