Wayfair (NYSE:W) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a report published on Monday morning.

Several other brokerages also recently commented on W. UBS Group upgraded shares of Wayfair from a neutral rating to a buy rating and raised their price objective for the company from $72.00 to $110.00 in a research report on Monday, August 7th. Gordon Haskett upgraded shares of Wayfair from a hold rating to a buy rating and raised their price objective for the company from $65.00 to $110.00 in a research report on Thursday, August 3rd. Wells Fargo & Company upgraded shares of Wayfair from an underweight rating to an overweight rating and decreased their price objective for the company from $135.00 to $100.00 in a research report on Thursday, August 3rd. Canaccord Genuity Group lifted their price target on shares of Wayfair from $86.00 to $98.00 and gave the company a buy rating in a report on Thursday, August 3rd. Finally, Truist Financial lifted their price target on shares of Wayfair from $56.00 to $96.00 and gave the company a buy rating in a report on Thursday, August 3rd. Sixteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $74.27.

Wayfair Price Performance

Shares of Wayfair stock opened at $46.09 on Monday. The company’s fifty day simple moving average is $53.53 and its 200-day simple moving average is $56.76. The stock has a market capitalization of $5.44 billion, a PE ratio of -5.58 and a beta of 3.20. Wayfair has a 1-year low of $29.51 and a 1-year high of $90.71.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $70.37, for a total value of $703,700.00. Following the sale, the chief executive officer now directly owns 309,137 shares of the company’s stock, valued at approximately $21,753,970.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jon Blotner sold 3,628 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $50.00, for a total value of $181,400.00. Following the sale, the insider now directly owns 24,417 shares of the company’s stock, valued at approximately $1,220,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 10,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $70.37, for a total transaction of $703,700.00. Following the sale, the chief executive officer now directly owns 309,137 shares in the company, valued at $21,753,970.69. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,923 shares of company stock worth $3,873,864. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Wayfair during the second quarter valued at $31,000. BluePath Capital Management LLC purchased a new position in Wayfair during the third quarter valued at $34,000. DekaBank Deutsche Girozentrale purchased a new position in Wayfair during the third quarter valued at $34,000. Captrust Financial Advisors lifted its holdings in Wayfair by 24.1% during the second quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 188 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Wayfair during the third quarter valued at $44,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty 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, Perigold, and Wayfair Professional.