Wayfair (NYSE:W) Trading Up 4%

Wayfair Inc. (NYSE:W) shot up 4% during mid-day trading on Monday . The stock traded as high as $49.46 and last traded at $49.25. 616,048 shares were traded during trading, a decline of 85% from the average session volume of 4,247,002 shares. The stock had previously closed at $47.35.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on W. Piper Sandler reduced their price target on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. The Goldman Sachs Group dropped their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average price target of $65.63.

Wayfair Stock Up 2.8 %

The firm has a market cap of $6.01 billion, a PE ratio of -8.83 and a beta of 3.40. The company’s 50 day moving average price is $46.78 and its two-hundred day moving average price is $55.11.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.27) earnings per share. On average, analysts expect that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the transaction, the insider now owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wayfair news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the transaction, the insider now owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the sale, the chief technology officer now owns 64,074 shares in the company, valued at $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold 40,102 shares of company stock valued at $2,076,659 in the last 90 days. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently bought and sold shares of the stock. Capital World Investors boosted its stake 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 purchasing an additional 103,369 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wayfair by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. Renaissance Technologies LLC lifted its stake in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares during the period. Wolf Hill Capital Management LP lifted its stake in Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares during the period. Finally, Norges Bank acquired a new stake in Wayfair during the 4th quarter valued at approximately $47,374,000. 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.