Wayfair Inc. (NYSE:W) Stock Position Cut by Bares Capital Management Inc.

Bares Capital Management Inc. decreased its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 30.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 983,522 shares of the company's stock after selling 422,060 shares during the quarter. Wayfair makes up approximately 5.0% of Bares Capital Management Inc.'s portfolio, making the stock its 7th biggest position. Bares Capital Management Inc. owned approximately 0.78% of Wayfair worth $55,254,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Wayfair in the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair during the third quarter worth about $44,000. Brooklyn Investment Group acquired a new stake in Wayfair during the third quarter worth about $50,000. International Assets Investment Management LLC acquired a new stake in Wayfair during the second quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair in the third quarter valued at about $67,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Trading Down 0.3 %

Wayfair stock traded down $0.19 during midday trading on Tuesday, reaching $54.69. 3,704,081 shares of the company's stock were exchanged, compared to its average volume of 4,421,144. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18. The stock's 50-day simple moving average is $46.91 and its 200 day simple moving average is $49.09.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.38) EPS. Analysts expect that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insider Activity at Wayfair

In related news, CTO Fiona Tan sold 10,040 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares of the company's stock, valued at approximately $4,491,794.30. This represents a 10.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 6,055 shares of the firm's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the transaction, the insider now directly owns 62,817 shares in the company, valued at $3,333,698.19. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,868 shares of company stock valued at $4,866,748. 23.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

W has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on Wayfair from $69.00 to $46.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Citigroup cut their price target on Wayfair from $70.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Loop Capital raised their price target on Wayfair from $45.00 to $55.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada cut their price target on Wayfair from $53.00 to $50.00 and set a "sector perform" rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of "Moderate Buy" and a consensus target price of $60.28.

Wayfair Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.