SG Americas Securities LLC Sells 36,601 Shares of Wayfair Inc. $W

SG Americas Securities LLC cut its position in Wayfair Inc. (NYSE:W) by 14.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,005 shares of the company’s stock after selling 36,601 shares during the quarter. SG Americas Securities LLC’s holdings in Wayfair were worth $15,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Webster Bank N. A. acquired a new stake 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 valued at approximately $33,000. Piper Sandler & CO. bought a new stake in Wayfair during the fourth quarter worth $34,000. Havemeyer Place LP bought a new stake in Wayfair during the fourth quarter worth $39,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of Wayfair stock opened at $93.55 on Friday. The company’s 50 day moving average price is $73.10 and its two-hundred day moving average price is $84.41. The firm has a market capitalization of $12.35 billion, a P/E ratio of -39.98, a P/E/G ratio of 4.88 and a beta of 3.02. Wayfair Inc. has a fifty-two week low of $49.25 and a fifty-two week high of $119.98.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 6,137 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $78.62, for a total value of $482,490.94. Following the completion of the transaction, the chief executive officer directly owned 429,137 shares in the company, valued at approximately $33,738,750.94. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 7,139 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $78.55, for a total value of $560,768.45. Following the sale, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 244,790 shares of company stock worth $18,959,021 in the last 90 days. Insiders own 18.44% of the company’s stock.

Key Wayfair News

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Multiple articles spotlight Wayfair’s 4-day flash sale and deep discounts on bedding, furniture, decor, storage, and outdoor products, which may be boosting shopper interest and supporting revenue growth. Article Title
• Positive Sentiment: Coverage of Wayfair’s “Prime Day” style promotion and fast delivery timing suggests the company is competing effectively on price and convenience, which can help improve conversion rates. Article Title
• Positive Sentiment: Reports describing Wayfair’s stock rebound and a “major furniture shift” may be helping investor sentiment by suggesting improving demand trends in home goods. Article Title
• Neutral Sentiment: Consumer lifestyle pieces featuring discounted products such as lanterns, grills, and sleeper sofas add visibility to Wayfair’s marketplace, but they do not materially change the investment thesis on their own. Article Title

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on W shares. Weiss Ratings upgraded Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group set a $79.00 price objective on Wayfair in a research report on Friday, May 1st. Mizuho reduced their price objective on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group decreased their target price on Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Finally, Truist Financial set a $99.00 target price on Wayfair in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.68.

Wayfair 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.