Wayfair (NYSE:W) Shares Gap Up to $44.78

Shares of Wayfair Inc. (NYSE:W) gapped up prior to trading on Friday . The stock had previously closed at $44.78, but opened at $47.32. Wayfair shares last traded at $48.38, with a volume of 1,413,167 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on W shares. JPMorgan Chase & Co. lowered their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Loop Capital cut their price objective on Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, June 21st. Citigroup cut their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Stifel Nicolaus dropped their price target on Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have assigned 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 an average target price of $65.63.

Wayfair Stock Performance

The company has a 50-day moving average of $46.78 and a 200-day moving average of $55.13. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of -8.83 and a beta of 3.40.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the company earned ($1.27) earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the completion of the sale, the insider now owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wayfair news, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the transaction, the insider now owns 43,926 shares in the company, valued at approximately $2,463,809.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Netzer sold 6,625 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total transaction of $336,152.50. Following the transaction, the chief operating officer now directly owns 157,239 shares in the company, valued at $7,978,306.86. The disclosure for this sale can be found here. Insiders have sold a total of 40,102 shares of company stock worth $2,076,659 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several large investors have recently modified their holdings of W. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Wayfair by 12.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company’s stock worth $6,673,000 after buying an additional 13,832 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Wayfair by 46.6% during the second quarter. Truist Financial Corp now owns 9,527 shares of the company’s stock worth $502,000 after purchasing an additional 3,028 shares during the last quarter. Quarry LP raised its holdings in Wayfair by 880.0% in the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after buying an additional 2,288 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Wayfair by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock worth $948,000 after buying an additional 1,355 shares during the period. Finally, Maverick Capital Ltd. grew its holdings in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.