Short Interest in Wayfair Inc. (NYSE:W) Decreases By 18.3%

Wayfair Inc. (NYSE:W) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 17,100,000 shares, a decline of 18.3% from the October 15th total of 20,930,000 shares. Based on an average daily volume of 4,740,000 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analysts Forecast Growth

W has been the subject of several recent research reports. Citigroup lowered their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Guggenheim reiterated a “buy” rating and issued a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Wednesday. Thirteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This represents a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,868 shares of company stock valued at $2,003,248. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. Sei Investments Co. lifted its holdings in shares of Wayfair by 14.6% during the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after acquiring an additional 12,809 shares during the period. Highland Peak Capital LLC bought a new position in shares of Wayfair during the second quarter valued at $5,165,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Wayfair in the second quarter valued at $8,189,000. Finally, Caxton Associates LP acquired a new stake in shares of Wayfair in the first quarter valued at $1,164,000. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Performance

Shares of W traded down $0.58 during mid-day trading on Friday, hitting $38.21. The company’s stock had a trading volume of 3,260,427 shares, compared to its average volume of 4,448,207. Wayfair has a one year low of $37.35 and a one year high of $76.18. The firm has a market capitalization of $4.79 billion, a PE ratio of -8.51 and a beta of 3.46. The stock’s 50-day moving average is $48.21 and its two-hundred day moving average is $51.50.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business earned ($1.38) earnings per share. Analysts expect that Wayfair will post -2.92 EPS for the current fiscal year.

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.