Wayfair (NYSE:W) Trading Down 8% – Here’s What Happened

Wayfair Inc. (NYSE:W)’s share price dropped 8% during trading on Tuesday . The company traded as low as $26.05 and last traded at $25.23. Approximately 2,344,275 shares changed hands during trading, a decline of 48% from the average daily volume of 4,494,000 shares. The stock had previously closed at $27.44.

Analysts Set New Price Targets

A number of equities research analysts recently commented on W shares. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Monday, March 10th. Piper Sandler set a $58.00 price target on Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Wedbush reaffirmed a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Finally, Loop Capital cut their target price on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.16.

Wayfair Stock Down 11.6 %

The stock’s fifty day moving average price is $36.89 and its 200-day moving average price is $43.64. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -6.52 and a beta of 3.72.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 23,835 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. This trade represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the transaction, the insider now owns 589,073 shares in the company, valued at $28,540,586.85. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,532 shares of company stock valued at $5,090,232. 23.50% of the stock is owned by insiders.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC raised its position in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the period. J.Safra Asset Management Corp grew its stake in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the last quarter. GAMMA Investing LLC raised its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Wayfair during the fourth quarter worth approximately $41,000. 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.