Wayfair Inc. (W) Shares Sold by Northern Trust Corp
Northern Trust Corp lessened its holdings in shares of Wayfair Inc. (NYSE:W) by 53.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 181,996 shares of the company’s stock after selling 213,068 shares during the period. Northern Trust Corp owned 0.21% of Wayfair worth $13,992,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Wayfair by 18,904.8% in the second quarter. Russell Investments Group Ltd. now owns 274,239 shares of the company’s stock valued at $21,089,000 after acquiring an additional 272,796 shares during the last quarter. Allen Investment Management LLC boosted its holdings in Wayfair by 25.7% in the second quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock valued at $67,654,000 after acquiring an additional 180,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Wayfair by 480.9% in the first quarter. Goldman Sachs Group Inc. now owns 201,769 shares of the company’s stock valued at $8,170,000 after acquiring an additional 167,034 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Wayfair by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,605,201 shares of the company’s stock valued at $105,484,000 after acquiring an additional 113,613 shares during the last quarter. Finally, Pioneer Investment Management Inc. bought a new position in Wayfair in the second quarter valued at about $8,488,000. Institutional investors own 66.24% of the company’s stock.
Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted ($0.43) EPS. The business’s revenue was up 42.7% on a year-over-year basis.
Several equities analysts recently issued reports on W shares. Stifel Nicolaus upgraded Wayfair from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $78.00 in a report on Friday, August 25th. Ifs Securities started coverage on Wayfair in a report on Friday, September 1st. They issued an “outperform” rating and a $85.00 price target on the stock. Robert W. Baird reiterated a “hold” rating and issued a $73.00 price target on shares of Wayfair in a report on Thursday, September 28th. Wedbush reiterated an “outperform” rating and issued a $82.00 price target on shares of Wayfair in a report on Wednesday, October 4th. Finally, Buckingham Research reiterated a “buy” rating and issued a $95.00 price target on shares of Wayfair in a report on Thursday, August 10th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $77.51.
In related news, insider Steven Conine sold 36,060 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $70.57, for a total transaction of $2,544,754.20. Following the sale, the insider now owns 10,130 shares in the company, valued at approximately $714,874.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Champlin Mulliken sold 700 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $64.73, for a total value of $45,311.00. Following the sale, the insider now owns 186,269 shares in the company, valued at approximately $12,057,192.37. The disclosure for this sale can be found here. Insiders sold a total of 460,348 shares of company stock worth $32,981,158 in the last quarter. Corporate insiders own 56.93% of the company’s stock.
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Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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