Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein assumed coverage on Wayfair in a report on Monday, May 23rd. They set an underperform rating and a $45.00 price target on the stock. UBS Group reduced their target price on Wayfair from $75.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, July 27th. Loop Capital reduced their target price on Wayfair from $90.00 to $70.00 in a report on Friday, May 6th. Evercore ISI reduced their target price on Wayfair to $65.00 in a report on Thursday, June 9th. Finally, Credit Suisse Group reduced their target price on Wayfair from $256.00 to $195.00 in a report on Friday, May 6th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $99.96.
Wayfair Stock Up 5.4 %
W stock opened at $56.82 on Monday. The firm has a market cap of $5.98 billion, a PE ratio of -12.43 and a beta of 2.92. The business has a 50 day moving average of $52.15 and a 200 day moving average of $92.12. Wayfair has a twelve month low of $43.31 and a twelve month high of $317.45.
Insider Transactions at Wayfair
In related news, CFO Michael D. Fleisher sold 5,874 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $53.99, for a total value of $317,137.26. Following the transaction, the chief financial officer now directly owns 66,664 shares of the company’s stock, valued at approximately $3,599,189.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Fiona Tan sold 4,767 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $43.97, for a total value of $209,604.99. Following the completion of the sale, the chief technology officer now directly owns 23,352 shares of the company’s stock, valued at $1,026,787.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael D. Fleisher sold 5,874 shares of Wayfair stock in a transaction on Monday, July 18th. The shares were sold at an average price of $53.99, for a total transaction of $317,137.26. Following the completion of the transaction, the chief financial officer now owns 66,664 shares in the company, valued at $3,599,189.36. The disclosure for this sale can be found here. Insiders have sold a total of 17,944 shares of company stock valued at $864,383 in the last ninety days. 27.04% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of W. Arizona State Retirement System increased its stake in shares of Wayfair by 3.1% during the first quarter. Arizona State Retirement System now owns 20,621 shares of the company’s stock worth $2,284,000 after acquiring an additional 617 shares during the period. Values First Advisors Inc. acquired a new position in shares of Wayfair during the fourth quarter worth about $552,000. Wishbone Management LP increased its stake in shares of Wayfair by 214.7% during the fourth quarter. Wishbone Management LP now owns 535,000 shares of the company’s stock worth $101,634,000 after acquiring an additional 365,000 shares during the period. Delta Asset Management LLC TN acquired a new position in shares of Wayfair during the fourth quarter worth about $159,000. Finally, Howland Capital Management LLC increased its stake in shares of Wayfair by 6.2% during the first quarter. Howland Capital Management LLC now owns 58,023 shares of the company’s stock worth $6,427,000 after acquiring an additional 3,408 shares during the period. 85.89% of the stock is currently owned by institutional investors and hedge funds.
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.
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