Stock Traders Buy Large Volume of Wayfair Call Options (NYSE:W)

Wayfair Inc. (NYSE:W) saw some unusual options trading activity on Monday. Traders purchased 26,901 call options on the company. This represents an increase of 36% compared to the typical volume of 19,740 call options.

Wayfair Price Performance

Shares of NYSE W opened at $44.37 on Wednesday. The company has a market cap of $5.48 billion, a price-to-earnings ratio of -9.88 and a beta of 3.46. The stock’s 50-day moving average is $48.65 and its two-hundred day moving average is $52.20. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.38) earnings per share. Equities research analysts anticipate that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,868 shares of company stock worth $2,003,248 over the last three months. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP grew its position in shares of Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares during the last quarter. Vanguard Group Inc. raised its position in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the last quarter. Maverick Capital Ltd. boosted its stake in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after purchasing an additional 227,908 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in Wayfair during the 1st quarter worth $13,690,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler cut their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus dropped their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday. Citigroup decreased their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

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.