Smith Group Asset Management LLC Has $514,000 Holdings in Wayfair Inc. $W

Smith Group Asset Management LLC trimmed its position in shares of Wayfair Inc. (NYSE:W) by 59.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,831 shares of the company’s stock after selling 9,916 shares during the quarter. Smith Group Asset Management LLC’s holdings in Wayfair were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

W has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $78.00 price objective on shares of Wayfair in a research report on Wednesday. Wedbush started coverage on Wayfair in a research note on Thursday, July 16th. They issued a “neutral” rating and a $104.00 target price for the company. Truist Financial set a $99.00 price target on Wayfair in a report on Monday, June 8th. Morgan Stanley set a $110.00 price target on Wayfair in a report on Friday, May 1st. Finally, Robert W. Baird set a $76.00 price target on shares of Wayfair in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $100.64.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of the company’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 owned 117,344 shares of the company’s stock, valued at $11,299,053.76. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 currently owned by insiders.

Wayfair Stock Performance

NYSE:W opened at $89.13 on Thursday. The stock’s fifty day moving average price is $83.19 and its two-hundred day moving average price is $82.54. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98. The company has a market cap of $11.77 billion, a price-to-earnings ratio of -38.09, a P/E/G ratio of 5.24 and a beta of 2.96.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. On average, equities analysts predict that Wayfair Inc. will post 0.6 EPS for the current fiscal year.

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.