Traders Purchase High Volume of Call Options on Wayfair (NYSE:W)

Wayfair Inc. (NYSE:W) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 29,783 call options on the company. This is an increase of approximately 86% compared to the typical daily volume of 15,990 call options.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the transaction, the insider now owns 602,573 shares of the company’s stock, valued at $27,567,714.75. This represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,189 shares of company stock valued at $6,183,193. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its holdings in Wayfair by 6.2% during the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock worth $598,596,000 after purchasing an additional 782,757 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after buying an additional 327,603 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Wayfair by 17.9% during the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock valued at $169,952,000 after acquiring an additional 581,000 shares during the last quarter. Finally, Southpoint Capital Advisors LP lifted its holdings in Wayfair by 100.0% during the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after acquiring an additional 1,400,000 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

W has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $46.00 price target (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. Loop Capital cut their price target on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. Bank of America reduced their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Monday, March 10th. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Stock Up 5.5 %

Shares of NYSE:W opened at $31.72 on Thursday. Wayfair has a twelve month low of $29.68 and a twelve month high of $76.18. The stock’s 50 day moving average is $42.47 and its 200-day moving average is $45.63. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -7.89 and a beta of 3.44.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Equities research analysts anticipate that Wayfair will post -2.54 earnings per share 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.