Ingalls & Snyder LLC Sells 1,047 Shares of Wayfair Inc. (NYSE:W)

Ingalls & Snyder LLC decreased its holdings in Wayfair Inc. (NYSE:WGet Rating) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,936 shares of the company’s stock after selling 1,047 shares during the period. Ingalls & Snyder LLC’s holdings in Wayfair were worth $16,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in W. Confluence Wealth Services Inc. bought a new position in shares of Wayfair in the fourth quarter worth about $27,000. Steward Partners Investment Advisory LLC boosted its stake in Wayfair by 227.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 252 shares of the company’s stock valued at $48,000 after buying an additional 175 shares during the last quarter. Gables Capital Management Inc. bought a new position in Wayfair during the third quarter valued at approximately $51,000. CarsonAllaria Wealth Management Ltd. bought a new position in Wayfair during the fourth quarter valued at approximately $51,000. Finally, CWM LLC bought a new position in Wayfair during the fourth quarter valued at approximately $55,000. 85.89% of the stock is owned by hedge funds and other institutional investors.

In other Wayfair news, CFO Michael D. Fleisher sold 6,101 shares of Wayfair stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $101.97, for a total transaction of $622,118.97. Following the completion of the sale, the chief financial officer now owns 58,788 shares of the company’s stock, valued at approximately $5,994,612.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 2,618 shares of Wayfair stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $115.78, for a total value of $303,112.04. Following the sale, the chief technology officer now directly owns 18,797 shares of the company’s stock, valued at approximately $2,176,316.66. The disclosure for this sale can be found here. Insiders sold a total of 11,599 shares of company stock valued at $1,233,647 in the last three months. Insiders own 27.04% of the company’s stock.

NYSE W traded up $4.36 during midday trading on Tuesday, hitting $55.17. 5,802,250 shares of the company traded hands, compared to its average volume of 2,917,008. The company has a market cap of $5.81 billion, a PE ratio of -12.07 and a beta of 2.89. The company’s 50-day simple moving average is $100.08 and its 200-day simple moving average is $158.61. Wayfair Inc. has a 52 week low of $49.54 and a 52 week high of $339.56.

Wayfair (NYSE:WGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($1.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.43) by $0.47. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Wayfair had a negative return on equity of 10.52% and a negative net margin of 3.54%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, research analysts anticipate that Wayfair Inc. will post -10.67 EPS for the current year.

W has been the subject of a number of research reports. Cowen dropped their price target on Wayfair from $275.00 to $220.00 in a research note on Wednesday, May 4th. Zacks Investment Research raised Wayfair from a “strong sell” rating to a “hold” rating and set a $88.00 price target for the company in a research note on Tuesday, April 26th. Credit Suisse Group dropped their price target on Wayfair from $256.00 to $195.00 in a research note on Friday, May 6th. Barclays lowered Wayfair from an “equal weight” rating to an “underweight” rating and set a $103.00 price target for the company. in a research note on Friday, April 1st. Finally, Loop Capital decreased their price objective on Wayfair from $90.00 to $70.00 in a research report on Friday, May 6th. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Hold” and an average target price of $149.78.

Wayfair Company Profile (Get Rating)

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

Further Reading

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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