Howland Capital Management LLC Lowers Position in Wayfair Inc. (NYSE:W)

Howland Capital Management LLC lessened its holdings in Wayfair Inc. (NYSE:W) by 18.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 36,097 shares of the company’s stock after selling 8,108 shares during the quarter. Howland Capital Management LLC’s holdings in Wayfair were worth $2,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in W. Adage Capital Partners GP L.L.C. raised its position in Wayfair by 100.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 50,000 shares of the company’s stock valued at $3,028,000 after purchasing an additional 25,000 shares in the last quarter. Neo Ivy Capital Management lifted its holdings in shares of Wayfair by 38.2% during the third quarter. Neo Ivy Capital Management now owns 9,636 shares of the company’s stock valued at $584,000 after purchasing an additional 2,661 shares during the last quarter. American Century Companies Inc. raised its holdings in Wayfair by 48.9% in the 3rd quarter. American Century Companies Inc. now owns 308,168 shares of the company’s stock worth $18,666,000 after acquiring an additional 101,270 shares during the last quarter. Wellington Management Group LLP raised its stake in Wayfair by 67.7% during the 3rd quarter. Wellington Management Group LLP now owns 644,622 shares of the company’s stock valued at $39,045,000 after buying an additional 260,237 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Wayfair by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after buying an additional 386,717 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 6,625 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total transaction of $336,152.50. Following the sale, the chief operating officer now owns 157,239 shares of the company’s stock, valued at approximately $7,978,306.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Thomas Netzer sold 6,625 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total transaction of $336,152.50. Following the completion of the transaction, the chief operating officer now directly owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the transaction, the insider now directly owns 229,073 shares of the company’s stock, valued at $15,636,522.98. The disclosure for this sale can be found here. Insiders have sold a total of 59,779 shares of company stock worth $3,331,694 over the last three months. 23.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Wayfair from a “hold” rating to a “sell” rating in a research report on Sunday, June 23rd. TD Cowen increased their price objective on shares of Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Sanford C. Bernstein upped their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Argus raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Thursday, May 16th. Finally, Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $78.50.

Wayfair Stock Up 3.4 %

NYSE:W traded up $1.83 during trading hours on Thursday, reaching $55.24. 4,122,057 shares of the company’s stock were exchanged, compared to its average volume of 4,196,938. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of -10.31 and a beta of 3.43. The company has a 50-day moving average of $58.74 and a 200 day moving average of $57.84. Wayfair Inc. has a 1-year low of $38.37 and a 1-year high of $90.71.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. Research analysts forecast that Wayfair Inc. will post -2.94 EPS for the current fiscal year.

About Wayfair

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.