First Trust Advisors LP Sells 13,526 Shares of Wayfair Inc. $W

First Trust Advisors LP cut its position in Wayfair Inc. (NYSE:W) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,044 shares of the company’s stock after selling 13,526 shares during the period. First Trust Advisors LP owned 0.10% of Wayfair worth $10,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in W. Webster Bank N. A. acquired a new stake in Wayfair in the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new position in shares of Wayfair during the fourth quarter worth approximately $33,000. Piper Sandler & CO. acquired a new position in shares of Wayfair during the fourth quarter worth approximately $34,000. Havemeyer Place LP bought a new position in shares of Wayfair in the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

W has been the topic of several research reports. Benchmark assumed coverage on shares of Wayfair in a report on Tuesday, July 7th. They set a “hold” rating on the stock. Weiss Ratings upgraded shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Wells Fargo & Company decreased their target price on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Robert W. Baird set a $76.00 target price on shares of Wayfair in a report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $78.00 price target on shares of Wayfair in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.64.

Wayfair Price Performance

W opened at $85.23 on Friday. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $119.98. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of -36.42, a P/E/G ratio of 4.83 and a beta of 2.96. The firm’s fifty day moving average price is $84.02 and its two-hundred day moving average price is $82.38.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting 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 quarter in the prior year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Wayfair Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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. Company insiders own 18.44% of the company’s stock.

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.