Wayfair Inc. (NYSE:W) Short Interest Update

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

Wayfair Stock Performance

W traded down $0.58 during trading hours on Friday, reaching $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 52 week low of $37.35 and a 52 week high of $76.18. The company’s 50-day moving average is $48.21 and its 200-day moving average is $51.50. The firm has a market cap of $4.79 billion, a PE ratio of -8.51 and a beta of 3.46.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.38) EPS. Equities analysts anticipate that Wayfair will post -2.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on W shares. The Goldman Sachs Group decreased their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Argus lowered Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Stifel Nicolaus decreased their target price on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $60.28.

Insider Activity

In related news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. The trade was a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,868 shares of company stock worth $2,003,248. 26.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in W. Oppenheimer & Co. Inc. bought a new position in Wayfair during the 1st quarter worth $438,000. Swiss National Bank increased its position in shares of Wayfair by 2.4% in the first quarter. Swiss National Bank now owns 163,900 shares of the company’s stock worth $11,126,000 after purchasing an additional 3,800 shares during the period. Sei Investments Co. increased its position in shares of Wayfair by 14.6% in the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after purchasing an additional 12,809 shares during the period. QRG Capital Management Inc. increased its position in shares of Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares during the period. 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.