Wayfair (NYSE:W) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of Wayfair Inc. (NYSE:W – Get Rating) saw unusually-strong trading volume on Friday after Citigroup raised their price target on the stock from $50.00 to $57.00. Approximately 98,508 shares changed hands during trading, a decline of 98% from the previous session’s volume of 4,406,935 shares.The stock last traded at $41.69 and had previously closed at $38.91.

W has been the subject of several other research reports. Cowen lowered Wayfair from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $80.00 to $38.00 in a research note on Monday, November 21st. Credit Suisse Group dropped their price target on Wayfair from $150.00 to $122.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. UBS Group dropped their price target on Wayfair from $65.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, September 23rd. StockNews.com raised Wayfair to a “sell” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on Wayfair from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.00.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 3,203 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $37.33, for a total value of $119,567.99. Following the sale, the chief technology officer now directly owns 31,552 shares of the company’s stock, valued at approximately $1,177,836.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Steve Oblak sold 854 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $44.40, for a total value of $37,917.60. Following the transaction, the insider now directly owns 183,941 shares of the company’s stock, valued at approximately $8,166,980.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 3,203 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $37.33, for a total value of $119,567.99. Following the completion of the transaction, the chief technology officer now directly owns 31,552 shares in the company, valued at $1,177,836.16. The disclosure for this sale can be found here. Insiders have sold a total of 42,379 shares of company stock valued at $1,540,618 in the last ninety days. 26.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in Wayfair by 24.1% during the 2nd quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock valued at $42,000 after buying an additional 188 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in Wayfair by 5.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 5,854 shares of the company’s stock valued at $648,000 after buying an additional 281 shares during the last quarter. HighTower Advisors LLC raised its stake in Wayfair by 16.9% during the 1st quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock valued at $259,000 after buying an additional 342 shares during the last quarter. Aviva PLC raised its stake in Wayfair by 1.5% during the 1st quarter. Aviva PLC now owns 23,470 shares of the company’s stock valued at $2,600,000 after buying an additional 346 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Wayfair by 2.4% in the 3rd quarter. Amalgamated Bank now owns 16,384 shares of the company’s stock worth $533,000 after purchasing an additional 380 shares in the last quarter. 90.61% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Trading Up 20.3 %

The stock has a market capitalization of $5.01 billion, a PE ratio of -4.17 and a beta of 2.85. The firm has a 50 day moving average price of $36.90 and a 200 day moving average price of $43.30.

Wayfair (NYSE:W – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($3.27) EPS for the quarter, topping the consensus estimate of ($3.32) by $0.05. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.81 billion. On average, equities research analysts expect that Wayfair Inc. will post -12.55 EPS for the current year.

About Wayfair

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Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.