Wayfair Inc. $W Shares Sold by Check Capital Management Inc. CA

Check Capital Management Inc. CA cut its holdings in shares of Wayfair Inc. (NYSE:W) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,983 shares of the company’s stock after selling 762 shares during the period. Wayfair makes up about 0.3% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 15th largest holding. Check Capital Management Inc. CA owned about 0.13% of Wayfair worth $8,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC lifted its position in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after purchasing an additional 609 shares during the period. Parallel Advisors LLC lifted its position in Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after purchasing an additional 1,097 shares during the period. IFP Advisors Inc lifted its position in Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock worth $96,000 after purchasing an additional 617 shares during the period. GFG Capital LLC acquired a new stake in Wayfair in the second quarter worth approximately $102,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Wayfair in the second quarter worth approximately $234,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Performance

Shares of NYSE:W opened at $74.24 on Friday. The stock has a fifty day moving average of $81.26 and a 200-day moving average of $56.01. Wayfair Inc. has a one year low of $20.41 and a one year high of $91.77. The company has a market capitalization of $9.63 billion, a PE ratio of -30.93 and a beta of 3.03.

Wayfair (NYSE:W) last announced its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the firm earned $0.47 earnings per share. Wayfair’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 85,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the sale, the insider directly owned 374,073 shares of the company’s stock, valued at $32,465,795.67. The trade was a 18.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Niraj Shah sold 85,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the sale, the chief executive officer directly owned 374,137 shares in the company, valued at approximately $32,471,350.23. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 923,857 shares of company stock worth $71,090,564. Company insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on W. Wells Fargo & Company set a $84.00 target price on Wayfair and gave the stock an “overweight” rating in a research report on Tuesday, August 5th. Citigroup upped their target price on Wayfair from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Wayfair in a research report on Wednesday, August 27th. Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Zelman & Associates increased their price objective on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $73.73.

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.