Short Interest in Wayfair Inc. (NYSE:W) Increases By 34.8%

Wayfair Inc. (NYSE:W - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 23,010,000 shares, an increase of 34.8% from the March 31st total of 17,070,000 shares. Based on an average trading volume of 5,430,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 25.1% of the company's stock are short sold.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on W shares. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 target price on the stock. in a report on Monday, April 14th. BMO Capital Markets set a $38.00 target price on Wayfair in a research report on Friday, May 2nd. Guggenheim dropped their target price on shares of Wayfair from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Loop Capital cut their target price on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Wayfair in a research report on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $48.25.

Wayfair Stock Performance

Shares of W traded up $3.13 on Thursday, hitting $33.58. 8,216,936 shares of the stock traded hands, compared to its average volume of 4,661,478. Wayfair has a one year low of $20.41 and a one year high of $76.18. The business has a 50 day simple moving average of $30.71 and a 200 day simple moving average of $40.38. The company has a market capitalization of $4.26 billion, a PE ratio of -8.35 and a beta of 2.93.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the prior year, the company posted ($0.32) earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now owns 559,073 shares of the company's stock, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares of the company's stock, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,915 shares of company stock valued at $3,389,028. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors grew its holdings in Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after acquiring an additional 782,757 shares in the last quarter. Vanguard Group Inc. increased its holdings in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after acquiring an additional 327,603 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock valued at $273,887,000 after acquiring an additional 740,641 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wayfair by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock worth $169,952,000 after buying an additional 581,000 shares during the last quarter. Finally, Southpoint Capital Advisors LP boosted its stake in Wayfair by 100.0% during the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock worth $124,096,000 after buying an additional 1,400,000 shares during the period. Hedge funds and other institutional investors own 89.67% of the company's stock.

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.