Wayfair (NYSE:W) Sets New 12-Month High - Here's What Happened

Key Points

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Wayfair Inc. (NYSE:W - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $81.85 and last traded at $81.43, with a volume of 587368 shares trading hands. The stock had previously closed at $79.06.

Analyst Upgrades and Downgrades

W has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on Wayfair from $40.00 to $83.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Stifel Nicolaus set a $68.00 price target on Wayfair and gave the company a "hold" rating in a research report on Tuesday, August 5th. Zelman & Associates upped their price target on Wayfair from $85.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Bank of America upped their price target on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Finally, TD Cowen upgraded Wayfair from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.96.

Wayfair Price Performance

The company has a market cap of $10.50 billion, a price-to-earnings ratio of -33.85 and a beta of 2.92. The business has a 50 day simple moving average of $59.81 and a 200 day simple moving average of $44.38.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm posted $0.47 EPS. Wayfair's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 199,422 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the transaction, the chief executive officer owned 544,137 shares of the company's stock, valued at $42,660,340.80. This represents a 26.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Conine sold 199,473 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares in the company, valued at $42,655,323.20. This trade represents a 26.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,215,789 shares of company stock worth $73,975,995 in the last ninety days. 21.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently added to or reduced their stakes in W. Sterling Capital Management LLC increased its holdings in shares of Wayfair by 60.1% in the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after acquiring an additional 2,116 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Wayfair by 5,850.4% in the first quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock worth $1,319,000 after acquiring an additional 41,538 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Wayfair by 74.4% in the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after acquiring an additional 9,372 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Wayfair by 11.4% in the fourth quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after acquiring an additional 47,326 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Wayfair in the fourth quarter worth about $4,262,000. Institutional investors and hedge funds own 89.67% of the company's stock.

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.

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