Short Interest in Wayfair Inc. (NYSE:W) Drops By 16.2%

Wayfair Inc. (NYSE:W) saw a significant decline in short interest during 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 Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the completion of the sale, the insider now directly owns 632,573 shares of the company’s stock, valued at $33,614,929.22. This represents a 4.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $242,803.27. Following the completion of the sale, the insider now owns 57,899 shares in the company, valued at $2,479,814.17. This represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,150 shares of company stock worth $6,250,114 over the last 90 days. 23.50% of the stock is owned by insiders.

Institutional Trading of Wayfair

Hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new position in shares of Wayfair in the fourth quarter valued at about $229,000. Assenagon Asset Management S.A. bought a new position in Wayfair in the 4th quarter valued at about $6,799,000. GAMMA Investing LLC lifted its position in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the last quarter. 272 Capital LP boosted its holdings in shares of Wayfair by 15.7% during the third quarter. 272 Capital LP now owns 44,053 shares of the company’s stock worth $2,475,000 after acquiring an additional 5,965 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Wayfair by 18.1% in the third quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after purchasing an additional 3,320 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Performance

W traded up $0.43 during trading on Thursday, reaching $43.35. 3,356,248 shares of the stock were exchanged, compared to its average volume of 3,367,240. The stock has a market cap of $5.43 billion, a P/E ratio of -9.65 and a beta of 3.43. The stock’s 50 day moving average price is $45.55 and its two-hundred day moving average price is $47.39. Wayfair has a twelve month low of $37.35 and a twelve month high of $76.18.

Wayfair (NYSE:W) last released 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 firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the firm earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts predict that Wayfair will post -2.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

W has been the topic of a number of recent analyst reports. Loop Capital lifted their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. UBS Group reduced their target price on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Robert W. Baird decreased their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler dropped their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Stifel Nicolaus cut their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

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.