Short Interest in Wayfair Inc. (NYSE:W) Declines By 18.3%

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on W. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays cut their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Raymond James cut their target price on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush dropped their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Insider Activity

In related 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 transaction of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of 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 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,868 shares of company stock valued at $2,003,248 in the last quarter. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares during the last quarter. Sei Investments Co. grew its stake in Wayfair by 14.6% in the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after acquiring an additional 12,809 shares in the last quarter. Highland Peak Capital LLC purchased a new position in shares of Wayfair during the second quarter worth approximately $5,165,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Wayfair during the second quarter valued at approximately $8,189,000. Finally, Caxton Associates LP purchased a new stake in shares of Wayfair in the first quarter valued at approximately $1,164,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Trading Down 1.5 %

Shares of NYSE W traded down $0.57 during trading hours on Friday, hitting $38.22. 3,261,392 shares of the company traded hands, compared to its average volume of 6,519,833. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -8.51 and a beta of 3.46. The company’s 50 day moving average price is $48.13 and its 200 day moving average price is $51.42.

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

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.