Patriot Financial Group Insurance Agency LLC Sells 5,419 Shares of Wayfair Inc. $W

Patriot Financial Group Insurance Agency LLC lowered its stake in shares of Wayfair Inc. (NYSE:W) by 61.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,413 shares of the company’s stock after selling 5,419 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Wayfair were worth $305,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. increased its holdings in Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after buying an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP grew its position in shares of Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after acquiring an additional 1,200,000 shares during the period. Spruce House Investment Management LLC grew its position in shares of Wayfair by 37.6% in the 2nd quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock valued at $153,420,000 after acquiring an additional 819,615 shares during the period. Geode Capital Management LLC increased its stake in shares of Wayfair by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,661,496 shares of the company’s stock worth $84,985,000 after purchasing an additional 59,083 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Wayfair by 197.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after purchasing an additional 1,033,865 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the insider owned 729,073 shares in the company, valued at $77,223,412.16. The trade was a 17.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the completion of the sale, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at $77,222,899.67. This represents a 17.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 955,959 shares of company stock worth $88,260,274. 21.91% of the stock is owned by insiders.

Wayfair Trading Up 3.2%

NYSE:W opened at $101.61 on Friday. The stock has a 50 day simple moving average of $97.87 and a 200 day simple moving average of $79.00. The stock has a market cap of $13.24 billion, a P/E ratio of -39.69 and a beta of 3.25. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $114.92.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on W. Canaccord Genuity Group lifted their price target on Wayfair from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their target price on Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a report on Wednesday, October 8th. UBS Group increased their price target on Wayfair from $102.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Wayfair from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.29.

About Wayfair

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.