Wayfair (NYSE:W) Shares Gap Up to $115.09

Shares of Wayfair Inc (NYSE:W) gapped up before the market opened on Thursday . The stock had previously closed at $110.16, but opened at $115.09. Wayfair shares last traded at $117.20, with a volume of 2,619,882 shares.

Several research analysts have weighed in on W shares. Credit Suisse Group decreased their price objective on shares of Wayfair from $195.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Berenberg Bank started coverage on shares of Wayfair in a report on Thursday, May 9th. They set a “sell” rating and a $121.00 price objective for the company. Deutsche Bank decreased their price objective on shares of Wayfair from $175.00 to $160.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Needham & Company LLC started coverage on shares of Wayfair in a report on Monday, July 1st. They set a “buy” rating and a $175.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Wayfair in a report on Friday, May 17th. They set a “buy” rating and a $192.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $155.74.

The stock has a market capitalization of $10.63 billion, a P/E ratio of -19.64 and a beta of 1.88. The company’s 50-day moving average is $132.63 and its two-hundred day moving average is $145.05.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($1.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.97) by $0.62. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.77) earnings per share. On average, research analysts predict that Wayfair Inc will post -9.43 earnings per share for the current fiscal year.

In other news, insider Edmond Macri sold 300 shares of Wayfair stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $124.63, for a total value of $37,389.00. Following the transaction, the insider now owns 950 shares of the company’s stock, valued at approximately $118,398.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 2,946 shares of Wayfair stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $126.96, for a total transaction of $374,024.16. Following the completion of the transaction, the chief operating officer now directly owns 18,255 shares in the company, valued at approximately $2,317,654.80. The disclosure for this sale can be found here. Insiders have sold a total of 35,744 shares of company stock worth $5,340,433 over the last 90 days. 33.86% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Wayfair by 40.0% in the first quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock worth $45,000 after acquiring an additional 84 shares in the last quarter. Advisor Group Inc. increased its position in shares of Wayfair by 9.0% in the second quarter. Advisor Group Inc. now owns 1,076 shares of the company’s stock worth $156,000 after acquiring an additional 89 shares in the last quarter. World Asset Management Inc increased its position in shares of Wayfair by 5.5% in the second quarter. World Asset Management Inc now owns 2,045 shares of the company’s stock worth $299,000 after acquiring an additional 107 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Wayfair by 1.8% in the first quarter. Nomura Asset Management Co. Ltd. now owns 8,090 shares of the company’s stock worth $1,201,000 after acquiring an additional 140 shares in the last quarter. Finally, CSat Investment Advisory L.P. purchased a new position in shares of Wayfair in the second quarter worth approximately $25,000. 77.21% of the stock is currently owned by institutional investors.

Wayfair Company Profile (NYSE:W)

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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