Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wayfair Inc shares valued at $335,153 were sold by Tan Fiona on Apr 02 ’24. At $63.06 per share, Tan Fiona sold 5,315 shares. The insider’s holdings dropped to 51,095 shares worth approximately $3.2 million following the completion of this transaction.
Also, Gulliver Kate sold 3,696 shares, netting a total of over 233,171 in proceeds. Following the sale of shares at $63.09 each, the insider now holds 89,555 shares.
Before that, Netzer Thomas had sold 3,339 shares from its account. In a trade valued at $210,462, the Chief Operating Officer traded Wayfair Inc shares for $63.03 each. Upon closing the transaction, the insider’s holdings decreased to 3,339 shares, worth approximately $8.98 million.
As published in a research note from Evercore ISI on April 04, 2024, Wayfair Inc [W] has been rated up from an In-line to an Outperform and the price target has been revised to $80 from $65. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 16, 2024, Raymond James has increased its “Mkt perform” rating to a “Strong buy” for W. Earlier on January 16, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for W stock which previously was a “an Equal-weight”.
Analyzing W Stock Performance
During the last five days, there has been a drop of approximately -7.21%. Over the course of the year, Wayfair Inc shares have jumped approximately 1.65%. Shares of the company reached a 52-week high of $71.31 on 03/28/24 and a 52-week low of $47.32 on 02/21/24. A 50-day SMA is recorded $57.53, while a 200-day SMA reached $59.58. Nevertheless, trading volume fell to 5.25 million shares from 3.08 million shares the previous day.
Support And Resistance Levels for Wayfair Inc (W)
According to the 24-hour chart, there is a support level at 61.32, which, if violated, would cause prices to drop to 59.92. In the upper region, resistance lies at 65.16. The next price resistance is at 67.60. RSI (Relative Strength Index) is 52.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.85, which suggests the price will decrease in the coming days. Percent R is at 69.67%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Wayfair Inc subject to short interest?
Stocks of Wayfair Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.26 million shares to 21.5 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 20.24 million shares. A jump of 5.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.82.
