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

Wayfair Inc. (NYSE:W) was the recipient of some unusual options trading activity on Friday. Investors acquired 28,618 call options on the company. This is an increase of 35% compared to the typical volume of 21,275 call options.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Wayfair news, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction on Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the transaction, the insider now owns 219,073 shares in the company, valued at $12,441,155.67. The disclosure for this sale can be found here. Insiders sold a total of 60,030 shares of company stock valued at $3,327,414 over the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several large investors have recently made changes to their positions in W. Riverview Trust Co acquired a new stake in Wayfair during the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair during the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the 4th quarter valued at $31,000. ORG Partners LLC acquired a new stake in Wayfair during the 1st quarter valued at $37,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Wayfair during the 4th quarter valued at $74,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on W shares. Argus upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Thursday, May 16th. Sanford C. Bernstein boosted their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Loop Capital dropped their price target on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley upped their target price on shares of Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $78.37.

Wayfair Stock Up 7.9 %

Shares of W traded up $3.90 on Friday, hitting $53.02. 5,013,111 shares of the stock traded hands, compared to its average volume of 4,205,008. The firm has a market capitalization of $6.38 billion, a P/E ratio of -9.68 and a beta of 3.43. The stock’s 50 day moving average is $55.34 and its two-hundred day moving average is $57.26. Wayfair has a 1 year low of $38.37 and a 1 year high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.11. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. Research analysts forecast that Wayfair will post -2.93 EPS for the current year.

Wayfair Company Profile

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.