Wayfair Sees Unusually Large Options Volume (NYSE:W)

Wayfair Inc. (NYSE:W) saw unusually large options trading on Wednesday. Traders purchased 29,783 call options on the stock. This represents an increase of 86% compared to the typical volume of 15,990 call options.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00. Following the transaction, the insider now directly owns 589,073 shares of the company’s stock, valued at $28,540,586.85. This represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Fiona Tan sold 7,581 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $47.17, for a total value of $357,595.77. Following the completion of the transaction, the chief technology officer now directly owns 88,976 shares in the company, valued at approximately $4,196,997.92. This represents a 7.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,189 shares of company stock worth $6,183,193. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently modified their holdings of the company. Southpoint Capital Advisors LP bought a new stake in shares of Wayfair during the 3rd quarter valued at about $78,652,000. Holocene Advisors LP boosted its stake in shares of Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after purchasing an additional 1,213,896 shares in the last quarter. Capital World Investors boosted its stake in shares of Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after purchasing an additional 782,757 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after purchasing an additional 740,641 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Wayfair during the 4th quarter valued at about $31,472,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Trading Up 5.9 %

Shares of Wayfair stock traded up $1.77 on Wednesday, hitting $31.84. 2,876,561 shares of the company traded hands, compared to its average volume of 4,198,929. The firm’s 50-day simple moving average is $42.74 and its 200 day simple moving average is $45.72. The company has a market cap of $4.04 billion, a P/E ratio of -7.97 and a beta of 3.44. Wayfair has a 12-month low of $29.68 and a 12-month high of $76.18.

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

Wall Street Analyst Weigh In

W has been the topic of several analyst reports. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Truist Financial reduced their price objective on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research note on Monday, March 10th. Piper Sandler set a $58.00 price objective on Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group reduced their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Fourteen 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 has a consensus rating of “Moderate Buy” and an average price target of $56.81.

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.