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Wellington Management Group LLP Raises Stock Holdings in Wayfair Inc. (NYSE:W)

Wayfair logo with Retail/Wholesale background

Wellington Management Group LLP increased its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 22.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,097,822 shares of the company's stock after purchasing an additional 201,157 shares during the quarter. Wellington Management Group LLP owned approximately 0.88% of Wayfair worth $61,676,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair in the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Wayfair in the 3rd quarter valued at $44,000. Brooklyn Investment Group acquired a new stake in shares of Wayfair in the 3rd quarter valued at $50,000. International Assets Investment Management LLC bought a new stake in shares of Wayfair during the second quarter worth $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Wayfair in the third quarter worth about $67,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Price Performance

NYSE W traded up $0.24 during trading on Wednesday, hitting $54.93. 3,058,462 shares of the company's stock traded hands, compared to its average volume of 4,416,020. The stock has a fifty day moving average of $46.94 and a two-hundred day moving average of $49.05. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market cap of $6.88 billion, a P/E ratio of -12.18 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the business posted ($1.38) EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Insider Activity

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. This represents a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,868 shares of company stock worth $4,866,748. Insiders own 23.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Wayfair from $67.00 to $63.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Stifel Nicolaus dropped their price objective on Wayfair from $55.00 to $47.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada decreased their target price on Wayfair from $53.00 to $50.00 and set a "sector perform" rating for the company in a research note on Monday, November 4th. Robert W. Baird cut their price objective on Wayfair from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Guggenheim reissued a "buy" rating and set a $70.00 target price on shares of Wayfair in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.28.

Read Our Latest Stock Analysis on Wayfair

Wayfair Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Wayfair (NYSE:W)

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