Short Interest in Wayfair Inc. (NYSE:W) Drops By 18.2%

Wayfair Inc. (NYSE:W - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 19,040,000 shares, a decline of 18.2% from the April 15th total of 23,290,000 shares. Based on an average daily volume of 4,500,000 shares, the short-interest ratio is currently 4.2 days.

Wayfair Stock Performance

Shares of Wayfair stock traded up $0.69 during trading hours on Monday, reaching $71.41. The company's stock had a trading volume of 6,030,680 shares, compared to its average volume of 4,559,140. The stock's fifty day simple moving average is $61.38 and its two-hundred day simple moving average is $56.47. The company has a market capitalization of $8.59 billion, a P/E ratio of -13.32 and a beta of 3.32. Wayfair has a one year low of $33.85 and a one year high of $90.71.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping analysts' consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. As a group, research analysts forecast that Wayfair will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 3,282 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total transaction of $207,094.20. Following the completion of the sale, the insider now owns 48,322 shares in the company, valued at $3,049,118.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the sale, the chief operating officer now owns 116,622 shares of the company's stock, valued at approximately $6,964,665.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 3,282 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total transaction of $207,094.20. Following the transaction, the insider now directly owns 48,322 shares in the company, valued at $3,049,118.20. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock worth $5,449,893 over the last ninety days. Insiders own 23.50% of the company's stock.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in Wayfair in the 1st quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Wayfair in the 4th quarter worth $29,000. GAMMA Investing LLC bought a new stake in shares of Wayfair during the 4th quarter valued at about $31,000. DekaBank Deutsche Girozentrale bought a new position in Wayfair in the third quarter worth about $34,000. Finally, ORG Partners LLC purchased a new position in shares of Wayfair during the first quarter valued at approximately $37,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Raymond James raised Wayfair from a "market perform" rating to a "strong-buy" rating and set a $65.00 price target for the company in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft increased their price target on Wayfair from $63.00 to $79.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Wayfair in a research report on Friday, May 3rd. Morgan Stanley increased their target price on Wayfair from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Sanford C. Bernstein lifted their price target on Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and an average target price of $77.64.

About Wayfair

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.

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