Wayfair Inc. (NYSE:W) Short Interest Update

Wayfair Inc. (NYSE:W) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 17,100,000 shares, a decrease of 18.3% from the October 15th total of 20,930,000 shares. Based on an average daily trading volume, of 4,740,000 shares, the short-interest ratio is presently 3.6 days.

Wayfair Trading Down 1.5 %

NYSE:W traded down $0.57 during trading hours on Friday, reaching $38.22. 3,261,392 shares of the company traded hands, compared to its average volume of 6,519,833. The business’s 50-day moving average price is $48.13 and its two-hundred day moving average price is $51.42. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The stock has a market capitalization of $4.79 billion, a P/E ratio of -8.51 and a beta of 3.46.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.38) EPS. As a group, equities analysts anticipate that Wayfair will post -2.92 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on W. Truist Financial decreased their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Raymond James lowered their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Royal Bank of Canada lowered their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Finally, The Goldman Sachs Group cut their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $60.28.

Insider Transactions at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the transaction, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,868 shares of company stock valued at $2,003,248 in the last quarter. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in W. Capital World Investors raised its position in Wayfair by 0.9% in the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after buying an additional 103,369 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the last quarter. Renaissance Technologies LLC lifted its position in Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the period. Wolf Hill Capital Management LP boosted its holdings in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Wayfair by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after purchasing an additional 35,268 shares during the period. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.