Wayfair Target of Unusually Large Options Trading (NYSE:W)

Wayfair Inc. (NYSE:W) was the recipient of unusually large options trading on Friday. Traders acquired 28,618 call options on the stock. This represents an increase of 35% compared to the typical volume of 21,275 call options.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,395 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the sale, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the sale, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,030 shares of company stock worth $3,327,414. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. My Personal CFO LLC bought a new stake in Wayfair in the 2nd quarter valued at $1,201,000. Allspring Global Investments Holdings LLC boosted its stake in Wayfair by 23.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock valued at $33,549,000 after purchasing an additional 121,792 shares during the period. Bank of New York Mellon Corp boosted its stake in Wayfair by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock valued at $15,319,000 after purchasing an additional 31,576 shares during the period. Lecap Asset Management Ltd. lifted its position in shares of Wayfair by 63.2% during the 2nd quarter. Lecap Asset Management Ltd. now owns 23,910 shares of the company’s stock valued at $1,261,000 after acquiring an additional 9,261 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Wayfair during the 2nd quarter valued at $561,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Up 7.9 %

W stock opened at $53.01 on Friday. The business has a 50 day moving average price of $55.06 and a two-hundred day moving average price of $57.23. The company has a market cap of $6.38 billion, a price-to-earnings ratio of -9.89 and a beta of 3.43. Wayfair has a twelve month low of $38.37 and a twelve month high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. On average, equities research analysts anticipate that Wayfair will post -2.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on W. Truist Financial upped their price target on Wayfair from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Sanford C. Bernstein increased their target price on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Wayfair in a report on Thursday, May 16th. Royal Bank of Canada increased their target price on Wayfair from $61.00 to $65.00 and gave the stock a “sector perform” rating in a report on Monday, May 6th. Finally, Morgan Stanley increased their target price on Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average price target of $78.37.

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.