Wayfair (NYSE:W) Stock Price Up 6.6% – Here’s Why

Wayfair Inc. (NYSE:W)’s share price traded up 6.6% on Monday . The stock traded as high as $42.80 and last traded at $42.80. 1,744,075 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 4,324,017 shares. The stock had previously closed at $40.15.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup cut their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday. Truist Financial cut their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday. Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Thirteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Trading Up 4.9 %

The firm has a market cap of $5.20 billion, a price-to-earnings ratio of -7.93 and a beta of 3.46. The stock has a fifty day moving average price of $48.69 and a 200 day moving average price of $52.35.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.27) earnings per share. On average, sell-side analysts forecast that Wayfair Inc. will post -2.68 EPS for the current year.

Insider Activity

In related news, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the sale, the chief financial officer now owns 117,947 shares in the company, valued at $6,257,088.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jon Blotner sold 4,600 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,471 shares of company stock valued at $1,987,002. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds have recently modified their holdings of the company. WealthPlan Investment Management LLC lifted its position in shares of Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after acquiring an additional 271 shares during the period. Creative Planning lifted its position in shares of Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after buying an additional 272 shares during the period. QRG Capital Management Inc. lifted its position in shares of Wayfair by 12.0% during the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after buying an additional 399 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after buying an additional 471 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Wayfair during the 3rd quarter worth approximately $29,000. Institutional investors own 89.67% of the company’s stock.

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.