Wayfair Inc. (NYSE:W) Short Interest Down 16.2% in December

Wayfair Inc. (NYSE:W) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 14,730,000 shares, a decline of 16.2% from the December 15th total of 17,580,000 shares. Based on an average trading volume of 4,500,000 shares, the days-to-cover ratio is currently 3.3 days.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the transaction, the chief operating officer now directly owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,150 shares of company stock valued at $6,250,114. 23.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the third quarter valued at $29,000. GAMMA Investing LLC lifted its position in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Wayfair in the 3rd quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in Wayfair during the 3rd quarter valued at about $50,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in Wayfair during the 3rd quarter worth approximately $67,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

W has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Truist Financial cut their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wedbush downgraded shares of Wayfair from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $44.00 in a report on Monday, January 6th. Citigroup dropped their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Wayfair Trading Up 1.0 %

W stock traded up $0.43 during mid-day trading on Thursday, reaching $43.35. The company’s stock had a trading volume of 3,356,248 shares, compared to its average volume of 3,367,240. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The business’s 50 day moving average price is $45.55 and its 200 day moving average price is $47.39. The company has a market cap of $5.43 billion, a price-to-earnings ratio of -9.65 and a beta of 3.43.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.38) EPS. As a group, equities analysts expect that Wayfair will post -2.91 EPS for the current fiscal 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.