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

Wayfair Inc. (NYSE:W) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 14,730,000 shares, a decrease of 16.2% from the December 15th total of 17,580,000 shares. Based on an average daily trading volume, of 4,500,000 shares, the days-to-cover ratio is currently 3.3 days.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were 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 in the company, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,150 shares of company stock valued at $6,250,114 over the last three months. 23.50% of the stock is currently owned by insiders.

Institutional Trading of Wayfair

Hedge funds have recently modified their holdings of the stock. Creative Planning lifted its holdings in Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after buying an additional 272 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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. Capital Performance Advisors LLP acquired a new position in shares of Wayfair during the third quarter valued at $29,000. Optimist Retirement Group LLC boosted its holdings in Wayfair by 14.9% in the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after acquiring an additional 568 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Wayfair by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after purchasing an additional 788 shares during the period. 89.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

W has been the topic of several recent analyst reports. Loop Capital lifted their price target on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Robert W. Baird dropped their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Truist Financial decreased their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.24.

Wayfair Trading Up 1.0 %

Shares of W opened at $43.35 on Friday. The stock has a fifty day moving average price of $45.55 and a two-hundred day moving average price of $47.39. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) 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 analyst estimates of $2.87 billion. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.38) EPS. Analysts expect that Wayfair will post -2.91 earnings per share for the current 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.