Wayfair (NYSE:W) Shares Gap Up to $64.76

Wayfair Inc. (NYSE:W)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $64.76, but opened at $67.62. Wayfair shares last traded at $66.77, with a volume of 994,299 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $88.00 price objective (down previously from $93.00) on shares of Wayfair in a research note on Friday, February 23rd. BMO Capital Markets started coverage on Wayfair in a research report on Tuesday, January 9th. They set a “market perform” rating and a $57.00 target price on the stock. Royal Bank of Canada boosted their target price on Wayfair from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Evercore ISI upped their price objective on Wayfair from $55.00 to $60.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Finally, StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Friday. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and a consensus target price of $75.00.

Wayfair Trading Up 0.4 %

The company has a 50-day moving average price of $56.93 and a 200-day moving average price of $55.46.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Equities research analysts predict that Wayfair Inc. will post -3.39 earnings per share for the current year.

Insider Activity at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,853 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $55.21, for a total transaction of $323,144.13. Following the completion of the sale, the chief financial officer now directly owns 76,860 shares of the company’s stock, valued at approximately $4,243,440.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Thomas Netzer sold 6,909 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $55.26, for a total value of $381,791.34. Following the completion of the transaction, the chief operating officer now directly owns 143,148 shares of the company’s stock, valued at approximately $7,910,358.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 5,853 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $55.21, for a total value of $323,144.13. Following the completion of the transaction, the chief financial officer now directly owns 76,860 shares of the company’s stock, valued at $4,243,440.60. The disclosure for this sale can be found here. Insiders sold a total of 81,300 shares of company stock valued at $4,591,396 in the last three months. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in Wayfair during the 4th quarter valued at $28,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair during the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the 4th quarter valued at $31,000. BluePath Capital Management LLC acquired a new stake in Wayfair during the 3rd quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Wayfair during the 3rd quarter valued at $34,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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.