Wayfair Sees Unusually High Options Volume (NYSE:W)

Wayfair Inc. (NYSE:W) was the target of unusually large options trading on Wednesday. Stock investors acquired 29,783 call options on the stock. This is an increase of approximately 86% compared to the average volume of 15,990 call options.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,521 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.88, for a total value of $211,944.48. Following the completion of the transaction, the insider now owns 63,568 shares in the company, valued at $2,980,067.84. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,189 shares of company stock valued at $4,810,693. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in W. Tabor Asset Management LP increased its holdings in Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares in the last quarter. Groupama Asset Managment increased its stake in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Wayfair during the 4th quarter worth approximately $6,799,000. Wellington Management Group LLP raised its position in shares of Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Wayfair in the 3rd quarter valued at approximately $1,070,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Trading Down 0.5 %

W stock opened at $31.52 on Friday. The firm has a 50 day moving average of $42.20 and a 200-day moving average of $45.53. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -7.84 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 quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Sell-side analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on W shares. Stifel Nicolaus reduced their price objective on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Wedbush reiterated a “neutral” rating and issued a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research report on Friday, February 21st. Truist Financial reduced their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Fourteen equities 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.81.

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.