Investors Purchase Large Volume of Wayfair Call Options (NYSE:W)

Wayfair Inc. (NYSE:W) was the recipient of unusually large options trading on Wednesday. Stock investors bought 29,783 call options on the company. This represents an increase of approximately 86% compared to the average volume of 15,990 call options.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Wayfair in a research report on Friday, February 21st. Truist Financial cut their price target on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, February 21st. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Canaccord Genuity Group cut their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Stifel Nicolaus decreased their price target on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Trading Down 0.5 %

Shares of W opened at $31.52 on Friday. The company’s 50-day moving average price is $42.20 and its 200 day moving average price is $45.53. Wayfair has a 12-month low of $29.68 and a 12-month high of $76.18. The firm has a market cap of $4.00 billion, a P/E ratio of -7.84 and a beta of 3.44.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts forecast that Wayfair will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the sale, the chief technology officer now directly owns 96,557 shares of the company’s stock, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at $25,901,852.09. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,189 shares of company stock worth $4,810,693 over the last quarter. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wayfair in the third quarter worth $44,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.