Arrowstreet Capital Limited Partnership Sells 855,673 Shares of Wayfair Inc. $W

Arrowstreet Capital Limited Partnership decreased its position in Wayfair Inc. (NYSE:W) by 30.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,969,981 shares of the company’s stock after selling 855,673 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Wayfair were worth $148,162,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Webster Bank N. A. bought a new position in shares of Wayfair during the 4th quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new position in Wayfair during the fourth quarter worth $33,000. Havemeyer Place LP bought a new position in Wayfair in the fourth quarter valued at $39,000. Kestra Advisory Services LLC bought a new position in Wayfair in the fourth quarter valued at $44,000. Finally, Larson Financial Group LLC increased its stake in Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after buying an additional 120 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 corporate insiders.

Wayfair Stock Performance

Shares of W opened at $84.01 on Friday. The firm has a market cap of $11.09 billion, a P/E ratio of -35.90, a price-to-earnings-growth ratio of 4.66 and a beta of 2.96. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The firm’s 50-day simple moving average is $81.25 and its 200 day simple moving average is $83.09.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The firm 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%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. As a group, equities analysts forecast that Wayfair Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

W has been the topic of a number of recent research reports. UBS Group lowered their target price on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Mizuho reduced their price target on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Needham & Company LLC decreased their price target on Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Citigroup lowered their price target on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Benchmark started coverage on Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating on the stock. 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 given a Sell rating to the stock. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $100.36.

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.