Janney Montgomery Scott LLC Buys 5,698 Shares of Wayfair Inc. $W

Janney Montgomery Scott LLC raised its stake in Wayfair Inc. (NYSE:W) by 234.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,129 shares of the company’s stock after buying an additional 5,698 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Wayfair were worth $611,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in W. Covenant Asset Management LLC purchased a new stake in Wayfair during the fourth quarter valued at approximately $4,403,000. North Dakota State Investment Board purchased a new position in Wayfair in the fourth quarter worth $3,636,000. Vanguard Group Inc. grew its holdings in Wayfair by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares during the last quarter. Artemis Investment Management LLP purchased a new position in Wayfair in the fourth quarter worth $48,004,000. Finally, M&T Bank Corp increased its position in shares of Wayfair by 3,713.2% during the fourth quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock worth $16,920,000 after purchasing an additional 164,086 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

W has been the subject of several analyst reports. UBS Group decreased their price objective on Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Canaccord Genuity Group reduced their target price on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Mizuho decreased their price target on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Weiss Ratings raised Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Finally, Jefferies Financial Group dropped their price target on Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.68.

Wayfair Price Performance

NYSE W opened at $88.75 on Wednesday. The stock’s fifty day moving average price is $77.34 and its 200 day moving average price is $83.78. Wayfair Inc. has a 1 year low of $53.13 and a 1 year high of $119.98. The company has a market cap of $11.72 billion, a price-to-earnings ratio of -37.93, a PEG ratio of 4.54 and a beta of 2.96.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Research analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, Director Steven Conine sold 112,861 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the transaction, the director owned 436,212 shares in the company, valued at approximately $33,806,430. This represents a 20.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the transaction, the chief executive officer directly owned 435,274 shares of the company’s stock, valued at $33,729,382.26. This represents a 20.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 245,925 shares of company stock worth $19,183,749 over the last three months. 18.44% of the stock is currently owned by insiders.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.