Wellington Management Group LLP Buys 201,157 Shares of Wayfair Inc. (NYSE:W)

Wellington Management Group LLP lifted its stake in Wayfair Inc. (NYSE:W) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,097,822 shares of the company’s stock after acquiring an additional 201,157 shares during the period. Wellington Management Group LLP owned 0.88% of Wayfair worth $61,676,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair during the 3rd quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in Wayfair during the 3rd quarter valued at about $50,000. International Assets Investment Management LLC acquired a new position in Wayfair during the 2nd quarter valued at about $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in Wayfair during the 3rd quarter valued at about $67,000. 89.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares of the company’s stock, valued at $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,868 shares of company stock worth $4,866,748. 23.50% of the stock is owned by corporate insiders.

Wayfair Trading Down 0.3 %

Shares of W stock opened at $54.71 on Wednesday. The company has a market capitalization of $6.86 billion, a P/E ratio of -12.18 and a beta of 3.44. The business’s 50 day moving average is $46.94 and its two-hundred day moving average is $49.05. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.38) EPS. On average, research analysts predict that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on W. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Piper Sandler reduced their target price on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets reduced their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Robert W. Baird reduced their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Citigroup dropped their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given 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 $60.28.

Wayfair Company Profile

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.