Wayfair (NYSE:W) Shares Gap Up to $50.53

Shares of Wayfair Inc. (NYSE:W) gapped up before the market opened on Thursday . The stock had previously closed at $50.53, but opened at $60.00. Wayfair shares last traded at $57.78, with a volume of 3,970,150 shares trading hands.

Wall Street Analyst Weigh In

W has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $91.00 price objective (up previously from $88.00) on shares of Wayfair in a research report on Friday. Wedbush reissued an “outperform” rating and set a $70.00 target price on shares of Wayfair in a research note on Friday. Loop Capital boosted their target price on shares of Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada lowered their target price on shares of Wayfair from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus boosted their target price on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.45.

Wayfair Price Performance

The company’s fifty day moving average is $59.92 and its two-hundred day moving average is $55.16.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Analysts expect that Wayfair Inc. will post -3.37 earnings per share for the current year.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Thomas Netzer sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the transaction, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Blotner sold 3,492 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now owns 32,118 shares in the company, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,156 shares of company stock worth $5,465,688. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co purchased a new position in Wayfair in the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in Wayfair in the 4th quarter valued at $29,000. GAMMA Investing LLC purchased a new position in Wayfair in the 4th quarter valued at $31,000. BluePath Capital Management LLC purchased a new position in Wayfair in the 3rd quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Wayfair in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors 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.