Wayfair (NYSE:W) Shares Gap Up to $43.23

Wayfair Inc. (NYSE:WGet Rating)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $43.23, but opened at $44.70. Wayfair shares last traded at $42.79, with a volume of 10,703 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on W. Royal Bank of Canada dropped their price target on Wayfair from $62.00 to $35.00 and set a “sector perform” rating on the stock in a report on Monday, November 7th. Wells Fargo & Company lowered their target price on Wayfair from $35.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, January 5th. MKM Partners lowered their target price on Wayfair from $60.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 19th. Cowen lowered Wayfair from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $80.00 to $38.00 in a research note on Monday, November 21st. Finally, UBS Group lowered their target price on Wayfair from $65.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, September 23rd. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Wayfair currently has an average rating of “Hold” and an average target price of $64.74.

Wayfair Stock Down 4.6 %

The company has a 50-day moving average of $36.75 and a 200 day moving average of $43.39. The firm has a market capitalization of $4.40 billion, a PE ratio of -3.66 and a beta of 2.85.

Wayfair (NYSE:WGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($3.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.32) by $0.05. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.81 billion. As a group, equities analysts anticipate that Wayfair Inc. will post -12.55 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, insider Steve Oblak sold 854 shares of Wayfair stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $44.40, for a total value of $37,917.60. Following the transaction, the insider now directly owns 183,941 shares of the company’s stock, valued at $8,166,980.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Steve Oblak sold 854 shares of Wayfair stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $44.40, for a total value of $37,917.60. Following the transaction, the insider now directly owns 183,941 shares of the company’s stock, valued at $8,166,980.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kate Gulliver sold 1,316 shares of Wayfair stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $37.31, for a total transaction of $49,099.96. Following the completion of the transaction, the chief financial officer now directly owns 16,024 shares in the company, valued at $597,855.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,379 shares of company stock worth $1,540,618. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in Wayfair by 24.1% during the 2nd quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 188 shares during the period. Yarbrough Capital LLC bought a new stake in shares of Wayfair during the 4th quarter valued at $43,000. CWM LLC boosted its holdings in shares of Wayfair by 186.3% during the 2nd quarter. CWM LLC now owns 1,088 shares of the company’s stock valued at $47,000 after buying an additional 708 shares in the last quarter. Skylands Capital LLC bought a new stake in shares of Wayfair during the 3rd quarter valued at $49,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Wayfair during the 3rd quarter valued at $59,000. 90.61% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

(Get Rating)

Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.

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