JPMorgan Chase & Co. upgraded shares of Wayfair (NYSE:W – Get Rating) from an underweight rating to an overweight rating in a report released on Monday, MarketBeat.com reports. They currently have $63.00 price target on the stock, up from their prior price target of $35.00.
W has been the topic of a number of other reports. Truist Financial lowered their price target on shares of Wayfair from $60.00 to $50.00 in a research note on Monday, November 7th. The Goldman Sachs Group upped their price target on shares of Wayfair from $36.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, November 4th. Cowen cut shares of Wayfair from an outperform rating to a market perform rating and lowered their price objective for the company from $80.00 to $38.00 in a research note on Monday, November 21st. DA Davidson lowered their price objective on shares of Wayfair to $45.00 in a research note on Thursday, December 1st. Finally, Wolfe Research started coverage on shares of Wayfair in a research note on Thursday, December 15th. They issued a peer perform rating on the stock. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $63.77.
Wayfair Stock Performance
Shares of W opened at $59.33 on Monday. The stock has a market capitalization of $6.36 billion, a P/E ratio of -5.29 and a beta of 2.85. The company’s fifty day moving average is $37.27 and its two-hundred day moving average is $43.24. Wayfair has a 1 year low of $28.11 and a 1 year high of $163.99.
Insider Transactions at Wayfair
In other news, CFO Kate Gulliver sold 1,316 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $37.31, for a total transaction of $49,099.96. Following the transaction, the chief financial officer now directly owns 16,024 shares in the company, valued at approximately $597,855.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Steve Oblak sold 854 shares of the stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $44.40, for a total transaction of $37,917.60. Following the completion of the sale, the insider now owns 183,941 shares of the company’s stock, valued at approximately $8,166,980.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kate Gulliver sold 1,316 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $37.31, for a total transaction of $49,099.96. Following the sale, the chief financial officer now directly owns 16,024 shares of the company’s stock, valued at approximately $597,855.44. The disclosure for this sale can be found here. Insiders have sold a total of 42,379 shares of company stock worth $1,540,618 in the last three months. Company insiders own 26.81% of the company’s stock.
Institutional Trading of Wayfair
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank grew its position in Wayfair by 2.0% in the second quarter. Swiss National Bank now owns 327,177 shares of the company’s stock valued at $14,252,000 after acquiring an additional 6,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Wayfair by 793.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 289,478 shares of the company’s stock valued at $12,610,000 after acquiring an additional 257,067 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Wayfair by 332.0% during the second quarter. Nisa Investment Advisors LLC now owns 10,800 shares of the company’s stock worth $470,000 after buying an additional 8,300 shares in the last quarter. Walleye Capital LLC grew its position in shares of Wayfair by 1,909.1% during the second quarter. Walleye Capital LLC now owns 60,273 shares of the company’s stock worth $2,625,000 after buying an additional 57,273 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Wayfair during the second quarter worth approximately $395,000. Institutional investors and hedge funds own 90.61% of the company’s stock.
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.
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