Ingalls & Snyder LLC Increases Stock Position in Wayfair Inc. (NYSE:W)

Ingalls & Snyder LLC lifted its stake in Wayfair Inc. (NYSE:W) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,554 shares of the company’s stock after purchasing an additional 1,294 shares during the quarter. Ingalls & Snyder LLC’s holdings in Wayfair were worth $5,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of W. Price T Rowe Associates Inc. MD increased its holdings in Wayfair by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,679 shares of the company’s stock worth $3,644,000 after buying an additional 4,458 shares in the last quarter. Comerica Bank raised its holdings in Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares during the period. Boston Partners purchased a new stake in Wayfair during the 1st quarter valued at $769,000. Neo Ivy Capital Management bought a new position in Wayfair in the 2nd quarter valued at $561,000. Finally, Lecap Asset Management Ltd. grew its position in Wayfair by 63.2% in the 2nd quarter. Lecap Asset Management Ltd. now owns 23,910 shares of the company’s stock valued at $1,261,000 after acquiring an additional 9,261 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

W has been the topic of a number of recent research reports. Loop Capital increased their price target on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Guggenheim restated a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. BMO Capital Markets reduced their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Robert W. Baird dropped their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com lowered Wayfair from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction 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 sale, the chief technology officer now directly owns 84,655 shares in the company, valued at approximately $4,491,794.30. The trade was a 10.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,868 shares of company stock valued at $3,272,548 over the last quarter. Corporate insiders own 23.50% of the company’s stock.

Wayfair Stock Down 0.7 %

W stock traded down $0.35 during mid-day trading on Tuesday, reaching $47.73. 247,910 shares of the stock traded hands, compared to its average volume of 4,414,343. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18. The business has a 50-day moving average of $47.25 and a two-hundred day moving average of $49.56. The firm has a market capitalization of $5.98 billion, a PE ratio of -10.65 and a beta of 3.44.

Wayfair (NYSE:W) last posted its quarterly 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 business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned ($1.38) EPS. On average, equities research analysts anticipate that Wayfair Inc. will post -2.89 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.