Wayfair Inc. (NYSE:W) Stock Holdings Reduced by Spruce House Investment Management LLC

Spruce House Investment Management LLC decreased its position in Wayfair Inc. (NYSE:W) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,180,385 shares of the company’s stock after selling 456,615 shares during the period. Wayfair comprises approximately 3.6% of Spruce House Investment Management LLC’s portfolio, making the stock its 5th biggest holding. Spruce House Investment Management LLC’s holdings in Wayfair were worth $96,635,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock worth $598,596,000 after acquiring an additional 782,757 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after acquiring an additional 327,603 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after acquiring an additional 740,641 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock worth $169,952,000 after acquiring an additional 581,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Wayfair by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company’s stock worth $68,584,000 after acquiring an additional 22,078 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares in the company, valued at approximately $25,901,852.09. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the completion of the transaction, the chief financial officer now owns 144,474 shares in the company, valued at approximately $4,575,491.58. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,826 shares of company stock worth $4,587,201. Company insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

W has been the subject of a number of analyst reports. BMO Capital Markets set a $38.00 price target on Wayfair in a report on Friday, May 2nd. Zelman & Associates assumed coverage on Wayfair in a report on Thursday. They issued an “outperform” rating for the company. Piper Sandler set a $58.00 price objective on Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group dropped their price objective on Wayfair from $50.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, Loop Capital reissued a “sell” rating and set a $35.00 price objective on shares of Wayfair in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Wayfair Stock Up 0.4%

NYSE W opened at $38.68 on Friday. The stock’s 50-day simple moving average is $31.02 and its two-hundred day simple moving average is $40.01. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $71.15. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -9.62 and a beta of 2.93.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. On average, equities analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.