Ingalls & Snyder LLC Purchases 1,294 Shares of Wayfair Inc. (NYSE:W)

Ingalls & Snyder LLC lifted its position 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 institutional investor owned 100,554 shares of the company’s stock after acquiring an additional 1,294 shares during the quarter. Ingalls & Snyder LLC owned approximately 0.08% of Wayfair worth $5,649,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in Wayfair during the third quarter valued at about $384,000. Holocene Advisors LP grew its position in Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after buying an additional 1,213,896 shares during the period. Cinctive Capital Management LP bought a new position in Wayfair during the third quarter valued at about $4,464,000. Atom Investors LP grew its position in Wayfair by 13.0% during the third quarter. Atom Investors LP now owns 29,738 shares of the company’s stock valued at $1,671,000 after buying an additional 3,427 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Wayfair during the third quarter valued at about $44,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

W traded down $0.35 on Tuesday, reaching $47.73. The company had a trading volume of 247,910 shares, compared to its average volume of 4,414,343. The business has a 50 day simple moving average of $47.25 and a 200 day simple moving average of $49.56. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -10.65 and a beta of 3.44. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the business earned ($1.38) earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that Wayfair Inc. will post -2.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on W. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, BMO Capital Markets dropped their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. The trade was a 10.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,868 shares of company stock worth $3,272,548. Insiders own 23.50% of the company’s stock.

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.