Wasatch Advisors Inc. cut its holdings in shares of Wayfair Inc (NYSE:W) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596,838 shares of the company’s stock after selling 86,120 shares during the quarter. Wasatch Advisors Inc.’s holdings in Wayfair were worth $88,601,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Investors Research Corp bought a new stake in shares of Wayfair during the first quarter valued at approximately $52,000. LS Investment Advisors LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $60,000. Catamount Wealth Management bought a new stake in shares of Wayfair during the first quarter valued at approximately $74,000. Strs Ohio bought a new stake in shares of Wayfair during the first quarter valued at approximately $102,000. Finally, Brandywine Global Investment Management LLC increased its position in shares of Wayfair by 7,322.2% during the fourth quarter. Brandywine Global Investment Management LLC now owns 1,336 shares of the company’s stock valued at $121,000 after purchasing an additional 1,318 shares during the period. Institutional investors own 79.25% of the company’s stock.

In other Wayfair news, insider Edmond Macri sold 500 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $159.02, for a total value of $79,510.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 31,000 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $159.36, for a total value of $4,940,160.00. Following the completion of the transaction, the chief executive officer now directly owns 93,080 shares in the company, valued at approximately $14,833,228.80. The disclosure for this sale can be found here. Insiders have sold 343,813 shares of company stock worth $53,766,061 in the last ninety days. 33.86% of the stock is currently owned by insiders.

Shares of W traded down $0.10 during trading hours on Wednesday, hitting $152.18. 364,637 shares of the stock traded hands, compared to its average volume of 2,012,192. Wayfair Inc has a 1-year low of $76.60 and a 1-year high of $173.72. The firm has a market capitalization of $14.01 billion, a PE ratio of -27.13 and a beta of 2.02.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.02). The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business earned ($0.91) earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities analysts predict that Wayfair Inc will post -8.39 EPS for the current fiscal year.

A number of analysts have weighed in on the company. Gordon Haskett upgraded Wayfair from a “hold” rating to an “accumulate” rating in a research report on Thursday, March 21st. Loop Capital upped their price target on Wayfair to $195.00 and gave the company a “positive” rating in a research report on Tuesday, March 12th. Zacks Investment Research lowered Wayfair from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Evercore ISI assumed coverage on Wayfair in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $200.00 price objective on the stock. Finally, Bank of America reissued a “neutral” rating and issued a $175.00 price objective (up previously from $163.00) on shares of Wayfair in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. Wayfair has an average rating of “Hold” and a consensus price target of $151.73.

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About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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