Wayfair Inc. (NYSE:W) Short Interest Update

Wayfair Inc. (NYSE:W) was the target of a large 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 daily volume of 4,500,000 shares, the short-interest ratio is currently 3.3 days.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Mizuho lowered their target price on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Piper Sandler lowered their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Citigroup reduced their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 4th. Loop Capital lifted their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.24.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 5,669 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the transaction, the insider now owns 57,899 shares in the company, valued at $2,479,814.17. This represents a 8.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the sale, the insider now owns 632,573 shares of the company’s stock, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,150 shares of company stock valued at $6,250,114. Company insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several large investors have recently modified their holdings of the stock. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares during the period. Geode Capital Management LLC raised its holdings in shares of Wayfair by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after buying an additional 35,268 shares during the period. Southpoint Capital Advisors LP bought a new stake in shares of Wayfair during the 3rd quarter worth approximately $78,652,000. Holocene Advisors LP boosted its holdings in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after acquiring an additional 1,213,896 shares during the period. Finally, Wellington Management Group LLP increased its stake in Wayfair by 22.4% in the third 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 period. Institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of Wayfair stock traded up $1.71 during trading hours on Friday, reaching $45.02. The company’s stock had a trading volume of 5,919,838 shares, compared to its average volume of 2,750,608. The firm has a 50 day moving average price of $45.67 and a 200-day moving average price of $47.33. The stock has a market cap of $5.64 billion, a P/E ratio of -10.03 and a beta of 3.43. Wayfair has a one year low of $37.35 and a one year high of $76.18.

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

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.