Wayfair (NYSE:W) Sees Large Volume Increase – Should You Buy?

Wayfair Inc. (NYSE:W) shares saw unusually-high trading volume on Friday . Approximately 3,083,396 shares traded hands during trading, a decline of 28% from the previous session’s volume of 4,272,212 shares.The stock last traded at $41.34 and had previously closed at $42.83.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on W. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. Barclays lowered their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Raymond James reduced their target price on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. Finally, UBS Group lowered their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Twelve equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.64.

Wayfair Price Performance

The business’s 50 day simple moving average is $48.79 and its 200 day simple moving average is $52.50. The stock has a market cap of $5.10 billion, a P/E ratio of -7.67 and a beta of 3.42.

Wayfair (NYSE:W) last posted its earnings results 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 during the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.27) EPS. Research analysts predict that Wayfair Inc. will post -2.68 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the sale, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares in the company, valued at approximately $6,257,088.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Netzer sold 8,435 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $447,561.10. Following the completion of the transaction, the chief operating officer now directly owns 179,180 shares of the company’s stock, valued at $9,507,290.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,471 shares of company stock valued at $1,987,002. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

Hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Wayfair in the third quarter valued at about $29,000. BloombergSen Inc. lifted its position in Wayfair by 54.4% during the 3rd quarter. BloombergSen Inc. now owns 25,617 shares of the company’s stock valued at $1,439,000 after purchasing an additional 9,025 shares during the period. Optas LLC acquired a new position in Wayfair in the third quarter valued at approximately $270,000. Nisa Investment Advisors LLC boosted its stake in Wayfair by 801.5% in the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock valued at $2,385,000 after acquiring an additional 37,750 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Wayfair during the 3rd quarter worth $277,000. 89.67% of the stock is owned by institutional investors.

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.