Spruce House Investment Management LLC Has $195.55 Million Stock Holdings in Wayfair Inc. $W

Spruce House Investment Management LLC lowered its position in shares of Wayfair Inc. (NYSE:W) by 11.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,600,000 shares of the company’s stock after selling 323,845 shares during the quarter. Wayfair comprises about 7.0% of Spruce House Investment Management LLC’s investment portfolio, making the stock its 6th largest position. Spruce House Investment Management LLC’s holdings in Wayfair were worth $195,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of W. Optas LLC lifted its holdings in Wayfair by 2.1% during the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock worth $508,000 after buying an additional 106 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after acquiring an additional 120 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Wayfair by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock worth $544,000 after purchasing an additional 124 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in Wayfair by 4.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,435 shares of the company’s stock worth $345,000 after purchasing an additional 155 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Wayfair by 12.8% in the fourth quarter. Parallel Advisors LLC now owns 1,400 shares of the company’s stock worth $141,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of Wayfair 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 sale, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 company insiders.

Wayfair Price Performance

Shares of NYSE W opened at $84.01 on Monday. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98. The business’s fifty day moving average price is $81.25 and its two-hundred day moving average price is $82.93. The firm has a market capitalization of $11.09 billion, a PE ratio of -35.90, a P/E/G ratio of 4.66 and a beta of 2.96.

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

Analysts Set New Price Targets

Several research firms have weighed in on W. Jefferies Financial Group lowered their target price on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. TD Cowen reduced their price target on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Needham & Company LLC decreased their price target on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a report on Friday, May 1st. Benchmark began coverage on shares of Wayfair in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Finally, Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Wayfair in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.36.

About Wayfair

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.