Wayfair (NYSE:W) Shares Up 2.9%

Wayfair Inc. (NYSE:W) was up 2.9% on Friday . The company traded as high as $44.41 and last traded at $43.95. Approximately 507,856 shares changed hands during trading, a decline of 88% from the average daily volume of 4,232,775 shares. The stock had previously closed at $42.72.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on W shares. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Truist Financial lowered their price target on Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Raymond James lowered their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 2nd. Loop Capital decreased their price objective on Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Finally, Wedbush decreased their price objective on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.63.

Wayfair Trading Down 0.7 %

The firm’s 50-day moving average price is $47.84 and its 200-day moving average price is $55.54. The stock has a market capitalization of $5.24 billion, a PE ratio of -7.91 and a beta of 3.40.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the prior year, the business earned ($1.27) earnings per share. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts predict that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Wayfair news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the sale, the insider now directly owns 43,926 shares in the company, valued at $2,463,809.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,102 shares of company stock valued at $2,076,659. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in W. Riverview Trust Co purchased a new position in shares of Wayfair during the first quarter worth $27,000. ORG Partners LLC purchased a new position in shares of Wayfair during the first quarter worth $37,000. International Assets Investment Management LLC purchased a new position in shares of Wayfair during the second quarter worth $58,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Wayfair during the fourth quarter worth $74,000. Finally, Comerica Bank raised its holdings in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares during the last quarter. Hedge funds and other 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.