Wellington Management Group LLP Sells 440,955 Shares of Wayfair Inc. (NYSE:W)

Wellington Management Group LLP lowered its stake in Wayfair Inc. (NYSE:W - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 656,867 shares of the company's stock after selling 440,955 shares during the period. Wellington Management Group LLP owned approximately 0.52% of Wayfair worth $29,112,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new position in Wayfair during the fourth quarter worth $30,735,000. Heartland Advisors Inc. boosted its position in shares of Wayfair by 57.1% during the 4th quarter. Heartland Advisors Inc. now owns 55,000 shares of the company's stock worth $2,438,000 after purchasing an additional 20,000 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Wayfair by 5.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company's stock worth $555,000 after purchasing an additional 690 shares during the period. Norges Bank purchased a new position in shares of Wayfair in the 4th quarter valued at about $31,472,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Wayfair in the fourth quarter valued at about $224,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analyst Upgrades and Downgrades

W has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on Wayfair from $47.00 to $46.00 and set a "hold" rating for the company in a research report on Friday, February 21st. Truist Financial lowered their price target on shares of Wayfair from $53.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday. Royal Bank of Canada cut their price objective on Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a research report on Monday, February 24th. Raymond James set a $60.00 target price on Wayfair and gave the company a "strong-buy" rating in a report on Friday, February 21st. Finally, Jefferies Financial Group raised Wayfair from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $54.16.

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Wayfair Price Performance

Shares of NYSE W traded up $0.62 during midday trading on Friday, hitting $26.91. 6,562,857 shares of the company's stock were exchanged, compared to its average volume of 4,609,850. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $76.18. The firm has a market cap of $3.42 billion, a P/E ratio of -6.69 and a beta of 3.72. The stock's 50 day moving average price is $36.48 and its 200-day moving average price is $43.47.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the transaction, the insider now directly owns 589,073 shares of the company's stock, valued at approximately $28,540,586.85. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 5,669 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares in the company, valued at approximately $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,532 shares of company stock worth $5,090,232. 23.50% of the stock is owned by company insiders.

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.