Wayfair (W) Trading Up 7.5%

Wayfair Inc (NYSE:W) was up 7.5% during mid-day trading on Thursday . The stock traded as high as $120.34 and last traded at $115.32. Approximately 5,189,891 shares changed hands during trading, an increase of 186% from the average daily volume of 1,812,932 shares. The stock had previously closed at $107.23.

Several equities research analysts have issued reports on W shares. Oppenheimer raised their price target on shares of Wayfair to $120.00 and gave the stock an “outperform” rating in a research note on Friday, June 8th. Canaccord Genuity raised their target price on shares of Wayfair from $95.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. Zacks Investment Research raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. DA Davidson decreased their target price on shares of Wayfair to $55.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 25th. Finally, Piper Jaffray Companies raised their target price on shares of Wayfair from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $107.22.

The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of -3.30. The firm has a market cap of $9.69 billion, a P/E ratio of -41.19 and a beta of 1.42.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 2nd. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by ($0.04). Wayfair had a negative net margin of 5.73% and a negative return on equity of 31,507.11%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business posted ($0.26) EPS. The company’s quarterly revenue was up 47.4% on a year-over-year basis. analysts forecast that Wayfair Inc will post -4.43 earnings per share for the current fiscal year.

In related news, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $82.10, for a total value of $49,260.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $113.85, for a total transaction of $1,593,900.00. Following the completion of the transaction, the insider now owns 47,169 shares in the company, valued at approximately $5,370,190.65. The disclosure for this sale can be found here. Insiders sold 187,436 shares of company stock worth $21,418,231 in the last 90 days. 37.75% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Carmignac Gestion raised its stake in shares of Wayfair by 230.3% during the first quarter. Carmignac Gestion now owns 2,661,902 shares of the company’s stock valued at $179,758,000 after purchasing an additional 1,855,970 shares during the period. Spruce House Investment Management LLC raised its stake in shares of Wayfair by 40.0% during the first quarter. Spruce House Investment Management LLC now owns 3,500,000 shares of the company’s stock valued at $236,355,000 after purchasing an additional 1,000,000 shares during the period. Baillie Gifford & Co. raised its stake in shares of Wayfair by 14.0% during the second quarter. Baillie Gifford & Co. now owns 2,696,705 shares of the company’s stock valued at $320,260,000 after purchasing an additional 331,656 shares during the period. Zevenbergen Capital Investments LLC raised its stake in shares of Wayfair by 23.1% during the first quarter. Zevenbergen Capital Investments LLC now owns 769,185 shares of the company’s stock valued at $51,943,000 after purchasing an additional 144,580 shares during the period. Finally, Luxor Capital Group LP purchased a new stake in shares of Wayfair during the first quarter valued at approximately $7,665,000. Hedge funds and other institutional investors own 75.65% of the company’s stock.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

Further Reading: Closed-End Mutual Funds

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