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

Key Points

• Adams Diversified Equity Fund bought 116,700 shares of Wayfair in the first quarter, a stake valued at about $8.78 million and equal to roughly 0.09% of the company.
• Wayfair continues to attract major institutional ownership, with hedge funds and other investors holding 89.67% of the stock. Several large firms, including Capital World Investors and Vanguard, also added to their positions.
• Analysts remain generally positive, giving Wayfair a Moderate Buy consensus with an average price target of $99.68. The company recently reported quarterly EPS of $0.26, matching estimates, while revenue rose 7.4% year over year to $2.93 billion.

Adams Diversified Equity Fund Inc. purchased a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 116,700 shares of the company's stock, valued at approximately $8,777,000. Adams Diversified Equity Fund Inc. owned about 0.09% of Wayfair at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Mizuho dropped their target price on shares of Wayfair from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. Needham & Company LLC decreased their price target on shares of Wayfair from $125.00 to $83.00 and set a "buy" rating for the company in a report on Friday, May 1st. Wells Fargo & Company dropped their price objective 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. Royal Bank Of Canada cut their target price on shares of Wayfair from $92.00 to $76.00 and set a "sector perform" rating on the stock in a report on Thursday, April 30th. Finally, Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Wayfair in a research note on Wednesday, May 20th. One equities research analyst has 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.68.

Wayfair Price Performance

Shares of W opened at $94.64 on Friday. The company has a 50-day moving average of $73.46 and a two-hundred day moving average of $84.48. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of -40.44, a PEG ratio of 4.97 and a beta of 3.02. Wayfair Inc. has a one year low of $50.40 and a one year high of $119.98.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly 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 business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 6,137 shares of the company's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $78.62, for a total value of $482,490.94. Following the transaction, the chief executive officer owned 429,137 shares in the company, valued at $33,738,750.94. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed 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 stock in a transaction that occurred on Thursday, April 2nd. The stock was 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 of the company's stock, valued at $8,024,496.02. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 244,790 shares of company stock valued at $18,959,021 over the last quarter. Company insiders own 18.44% of the company's stock.

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.

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