Wayfair Inc. (NYSE:W) Sees Significant Decrease in Short Interest

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

Insider Activity

In other news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction 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 directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,868 shares of company stock worth $2,003,248. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently modified their holdings of W. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Wayfair in the third quarter valued at about $44,000. Brooklyn Investment Group bought a new position in shares of Wayfair in the third quarter worth about $50,000. International Assets Investment Management LLC bought a new position in shares of Wayfair in the second quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair in the 3rd quarter valued at approximately $67,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Trading Down 1.5 %

W stock traded down $0.57 during mid-day trading on Friday, hitting $38.22. 3,261,392 shares of the company were exchanged, compared to its average volume of 6,519,833. The stock has a market capitalization of $4.79 billion, a PE ratio of -8.51 and a beta of 3.46. The business has a 50 day simple moving average of $48.13 and a 200-day simple moving average of $51.41. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the business posted ($1.38) EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that Wayfair will post -2.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on W shares. Loop Capital boosted their price objective on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Robert W. Baird cut their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wedbush lowered their target price on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Piper Sandler dropped their target price on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Wednesday. Thirteen research 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 company. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

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.