Wayfair (NYSE:W) Trading Down 5.5%

Wayfair Inc. (NYSE:W)’s share price was down 5.5% during mid-day trading on Tuesday . The stock traded as low as $63.32 and last traded at $63.40. Approximately 2,793,157 shares were traded during trading, a decline of 38% from the average daily volume of 4,482,359 shares. The stock had previously closed at $67.11.

Analysts Set New Price Targets

Several brokerages have weighed in on W. Sanford C. Bernstein boosted their price target on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a research report on Friday, February 16th. Piper Sandler reissued an “overweight” rating and issued a $91.00 price objective (up from $88.00) on shares of Wayfair in a research report on Friday, May 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Wayfair in a research report on Friday, February 23rd. Finally, Citigroup upped their price objective on shares of Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $77.83.

Wayfair Stock Down 4.3 %

The stock has a market cap of $7.73 billion, a price-to-earnings ratio of -11.84 and a beta of 3.32. The firm’s 50 day moving average is $62.27 and its two-hundred day moving average is $57.38.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. On average, analysts anticipate that Wayfair Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Thomas Netzer sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the transaction, the chief operating officer now directly owns 116,622 shares in the company, valued at $6,964,665.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares of the company’s stock, valued at $3,222,050.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,664 shares of company stock worth $5,449,893. 23.50% of the stock is owned by company insiders.

Institutional Trading of Wayfair

A number of large investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its position in shares of Wayfair by 4.3% in the 3rd quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock valued at $318,000 after acquiring an additional 219 shares in the last quarter. WealthPlan Investment Management LLC lifted its position in shares of Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after acquiring an additional 271 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Wayfair by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock valued at $409,000 after acquiring an additional 276 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Wayfair by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after acquiring an additional 360 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Wayfair by 2.8% in the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock valued at $903,000 after acquiring an additional 397 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

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.