Hillsdale Investment Management Inc. Trims Position in Wayfair Inc. $W

Hillsdale Investment Management Inc. trimmed its position in Wayfair Inc. (NYSE:W) by 33.5% during the 1st quarter, HoldingsChannel reports. The firm owned 27,800 shares of the company’s stock after selling 14,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Wayfair were worth $2,091,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in W. Covenant Asset Management LLC bought a new position in shares of Wayfair in the 4th quarter worth approximately $4,403,000. North Dakota State Investment Board bought a new stake in Wayfair during the fourth quarter valued at approximately $3,636,000. Vanguard Group Inc. increased its holdings in Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after buying an additional 72,707 shares during the last quarter. M&T Bank Corp increased its holdings in Wayfair by 3,713.2% during the fourth quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock valued at $16,920,000 after buying an additional 164,086 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Wayfair in the fourth quarter worth approximately $48,004,000. 89.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Wayfair

In other news, Director Steven Conine sold 112,861 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the sale, the director directly owned 436,212 shares of the company’s stock, valued at $33,806,430. This represents a 20.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value 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 SEC filing for this sale provides additional information. 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. Insiders sold 245,925 shares of company stock worth $19,183,749 in the last quarter. 18.44% of the stock is owned by corporate insiders.

Wayfair Price Performance

Wayfair stock opened at $91.69 on Thursday. Wayfair Inc. has a 1 year low of $53.85 and a 1 year high of $119.98. The firm’s 50 day moving average price is $77.85 and its 200-day moving average price is $83.73. The stock has a market cap of $12.10 billion, a P/E ratio of -39.19, a PEG ratio of 4.67 and a beta of 2.96.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, equities analysts expect that Wayfair Inc. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

W has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 30th. Morgan Stanley set a $110.00 price objective on Wayfair in a research note on Friday, May 1st. Jefferies Financial Group decreased their target price on Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Needham & Company LLC lowered their target price on Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, UBS Group reduced their price target on Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $99.68.

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.