Wayfair (NYSE:W) Shares Gap Up - Time to Buy?

Wayfair Inc. (NYSE:W - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $53.26, but opened at $56.51. Wayfair shares last traded at $54.67, with a volume of 633,601 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Wayfair from $53.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Monday, November 4th. StockNews.com lowered Wayfair from a "hold" rating to a "sell" rating in a research report on Monday, December 9th. Guggenheim restated a "buy" rating and set a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. UBS Group dropped their price target on Wayfair from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Wayfair from $55.00 to $47.00 and set a "hold" rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.28.

Wayfair Trading Down 1.8 %

The company's fifty day simple moving average is $47.00 and its 200 day simple moving average is $49.12.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.87 billion. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.38) EPS. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.91 EPS for the current year.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 1,011 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares of the company's stock, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,868 shares of company stock worth $4,866,748 in the last three months. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Southpoint Capital Advisors LP bought a new position in shares of Wayfair during the third quarter valued at about $78,652,000. Holocene Advisors LP boosted its holdings in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company's stock valued at $69,393,000 after acquiring an additional 1,213,896 shares during the period. Renaissance Technologies LLC grew its position 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 acquiring an additional 675,271 shares during the last quarter. Groupama Asset Managment increased its stake in Wayfair by 100.0% in the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company's stock worth $56,180,000 after purchasing an additional 500,000 shares during the period. Finally, Wolf Hill Capital Management LP lifted its position in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company's stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. 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.