Ingalls & Snyder LLC Lowers Stock Holdings in Wayfair Inc. (NYSE:W)

Ingalls & Snyder LLC lowered its holdings in Wayfair Inc. (NYSE:W) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,845 shares of the company’s stock after selling 3,709 shares during the period. Ingalls & Snyder LLC owned 0.08% of Wayfair worth $4,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Wayfair in the third quarter valued at $29,000. GAMMA Investing LLC boosted its holdings in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair in the third quarter valued at $44,000. Newbridge Financial Services Group Inc. acquired a new position in Wayfair in the fourth quarter valued at $48,000. Finally, Brooklyn Investment Group acquired a new position in Wayfair in the third quarter valued at $50,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on W shares. Citigroup reduced their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wedbush cut Wayfair from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $44.00 in a report on Monday, January 6th. Stifel Nicolaus reduced their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada reduced their price objective on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Finally, Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Wayfair Price Performance

Shares of Wayfair stock opened at $45.42 on Thursday. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The business has a 50-day moving average price of $47.17 and a 200 day moving average price of $46.65.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00. Following the completion of the sale, the insider now directly owns 589,073 shares in the company, valued at $28,540,586.85. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 5,974 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the sale, the chief financial officer now owns 129,964 shares of the company’s stock, valued at $5,841,881.80. This trade represents a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock valued at $7,709,418 in the last three months. 26.81% of the stock is currently owned by corporate insiders.

Wayfair Company Profile

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.