Quantinno Capital Management LP Sells 8,654 Shares of Wayfair Inc. $W

Quantinno Capital Management LP lowered its position in Wayfair Inc. (NYSE:W) by 2.8% during the 1st quarter, HoldingsChannel reports. The fund owned 302,332 shares of the company’s stock after selling 8,654 shares during the period. Quantinno Capital Management LP’s holdings in Wayfair were worth $22,738,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. purchased a new position in shares of Wayfair during the 4th quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in Wayfair in the 4th quarter worth about $33,000. Piper Sandler & CO. purchased a new stake in Wayfair in the 4th quarter worth about $34,000. Havemeyer Place LP bought a new stake in Wayfair in the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Wayfair by 393.4% in 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.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup dropped their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Truist Financial set a $99.00 price target on Wayfair in a research note on Monday, June 8th. Robert W. Baird set a $76.00 price objective on Wayfair in a report on Monday, May 4th. Morgan Stanley set a $110.00 price objective on Wayfair in a report on Friday, May 1st. Finally, Benchmark initiated coverage on Wayfair in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $100.64.

Wayfair Stock Performance

Shares of NYSE:W opened at $85.23 on Friday. The firm has a market cap of $11.25 billion, a PE ratio of -36.42, a price-to-earnings-growth ratio of 4.56 and a beta of 2.96. The firm’s 50 day simple moving average is $84.02 and its 200-day simple moving average is $82.38. Wayfair Inc. has a one year low of $55.60 and a one year 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, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. Wayfair’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Wayfair Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

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 directly 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 document filed with the SEC, which is available through 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 insiders.

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.