Adams Diversified Equity Fund Inc. Invests $8.78 Million in Wayfair Inc. $W

Adams Diversified Equity Fund Inc. acquired a new position in shares of Wayfair Inc. (NYSE:W) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 116,700 shares of the company’s stock, valued at approximately $8,777,000.

Other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. acquired a new position in Wayfair in the 4th quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Wayfair during the 4th quarter valued at about $33,000. Piper Sandler & CO. acquired a new stake in shares of Wayfair during the 4th quarter valued at about $34,000. Havemeyer Place LP bought a new stake in shares of Wayfair in the 4th quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after buying an additional 653 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Performance

NYSE W opened at $94.64 on Friday. The stock has a 50-day simple moving average of $73.46 and a 200 day simple moving average of $84.48. Wayfair Inc. has a twelve month low of $50.40 and a twelve month high of $119.98. The stock has a market capitalization of $12.49 billion, a PE ratio of -40.44, a P/E/G ratio of 4.97 and a beta of 3.02.

Wayfair (NYSE:W) last released its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the company earned $0.10 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC cut their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Canaccord Genuity Group decreased their target price on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company dropped their price target on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Wayfair in a report on Wednesday, May 20th. Finally, Truist Financial set a $99.00 price objective on shares of Wayfair in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.68.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 113,863 shares of Wayfair stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the sale, the chief executive officer owned 435,274 shares in the company, valued at $33,729,382.26. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total transaction of $345,790.10. Following the completion of the sale, the insider directly owned 111,158 shares in the company, valued at $8,024,496.02. This trade represents a 4.13% 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. In the last 90 days, insiders have sold 244,790 shares of company stock worth $18,959,021. 18.44% of the stock is currently owned by company insiders.

About Wayfair

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.