Janney Montgomery Scott LLC Raises Stock Holdings in Wayfair Inc. $W

Janney Montgomery Scott LLC increased its holdings in shares of Wayfair Inc. (NYSE:W) by 234.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,129 shares of the company’s stock after acquiring an additional 5,698 shares during the period. Janney Montgomery Scott LLC’s holdings in Wayfair were worth $611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors grew its position in Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after acquiring an additional 82,584 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after purchasing an additional 72,707 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Wayfair by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock worth $542,950,000 after purchasing an additional 180,558 shares during the last quarter. Janus Henderson Group PLC increased its stake in Wayfair by 4.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,570,475 shares of the company’s stock worth $358,514,000 after buying an additional 166,855 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock worth $283,724,000 after buying an additional 8,598 shares during the period. 89.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on W shares. Robert W. Baird set a $76.00 price objective on shares of Wayfair in a research report on Monday, May 4th. The Goldman Sachs Group set a $79.00 target price on shares of Wayfair in a research report on Friday, May 1st. Royal Bank Of Canada decreased their price target on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th. Mizuho lowered their price target on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, Benchmark assumed coverage on Wayfair in a research note on Tuesday, July 7th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.68.

Wayfair Price Performance

Shares of Wayfair stock opened at $88.75 on Wednesday. Wayfair Inc. has a 1 year low of $53.13 and a 1 year high of $119.98. The firm’s 50-day moving average is $77.34 and its two-hundred day moving average is $83.78. The stock 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 posted its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Activity

In related news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the transaction, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Conine sold 112,861 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value of $8,746,727.50. Following the sale, the director owned 436,212 shares of the company’s stock, valued at approximately $33,806,430. This represents a 20.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 245,925 shares of company stock worth $19,183,749. Corporate insiders own 18.44% of the company’s stock.

Wayfair 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.