Wayfair Inc (W) Stock Price Down 8.9% Following Insider Selling

Wayfair Inc (NYSE:W) fell 8.9% during trading on Friday following insider selling activity. The company traded as low as $56.54 and last traded at $67.78. 3,724,929 shares changed hands during mid-day trading, an increase of 41% from the average session volume of 2,634,480 shares. The stock had previously closed at $74.41.

Specifically, COO James Savarese sold 21,663 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.32, for a total value of $1,739,972.16. Following the completion of the sale, the chief operating officer now owns 533,821 shares of the company’s stock, valued at $42,876,502.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Champlin Mulliken sold 941 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.37, for a total transaction of $58,690.17. Following the completion of the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $62,370. The disclosure for this sale can be found here. Insiders have sold 420,752 shares of company stock valued at $29,788,852 in the last ninety days. 56.93% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on W. Piper Jaffray Companies restated a “buy” rating and issued a $89.00 target price on shares of Wayfair in a research note on Friday, September 8th. Gordon Haskett upgraded shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday, September 5th. Wedbush restated an “outperform” rating and issued a $82.00 target price on shares of Wayfair in a research note on Wednesday, October 4th. Oppenheimer Holdings, Inc. set a $88.00 target price on shares of Wayfair and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, Buckingham Research restated a “buy” rating and issued a $95.00 target price (up from $72.00) on shares of Wayfair in a research note on Thursday, July 13th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Wayfair currently has an average rating of “Buy” and a consensus target price of $76.54.

The company has a debt-to-equity ratio of 6.93, a current ratio of 0.70 and a quick ratio of 0.67.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.03. Wayfair had a negative net margin of 5.06% and a negative return on equity of 505.51%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted ($0.54) EPS. The firm’s revenue was up 39.1% compared to the same quarter last year. analysts predict that Wayfair Inc will post -2.27 earnings per share for the current year.

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in shares of Wayfair by 96.2% during the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock worth $105,000 after purchasing an additional 667 shares during the period. UBS Group AG raised its holdings in shares of Wayfair by 55.5% during the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock worth $109,000 after purchasing an additional 960 shares during the period. Delta Asset Management LLC TN raised its holdings in shares of Wayfair by 375.0% during the third quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock worth $128,000 after purchasing an additional 1,500 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Wayfair during the first quarter worth $137,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Wayfair during the second quarter worth $138,000. 66.24% of the stock is currently owned by institutional investors.

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About Wayfair

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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