Wayfair (NYSE:W) Stock Price Down 4.2% Following Insider Selling

Wayfair Inc. (NYSE:W)’s stock price fell 4.2% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $43.30 and last traded at $43.56. 831,229 shares were traded during trading, a decline of 81% from the average session volume of 4,395,498 shares. The stock had previously closed at $45.45.

Specifically, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Citigroup lowered their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus cut their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. BMO Capital Markets decreased their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler decreased their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

The firm has a market cap of $5.48 billion, a P/E ratio of -9.74 and a beta of 3.44. The business has a 50-day simple moving average of $46.29 and a 200 day simple moving average of $48.74.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the company earned ($1.38) earnings per share. Wayfair’s quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts expect that Wayfair Inc. will post -2.91 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. 272 Capital LP grew its position in Wayfair by 15.7% during the 3rd quarter. 272 Capital LP now owns 44,053 shares of the company’s stock valued at $2,475,000 after purchasing an additional 5,965 shares during the last quarter. Tidal Investments LLC grew its position in Wayfair by 18.1% in the 3rd quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock worth $1,217,000 after purchasing an additional 3,320 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Wayfair by 16.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock valued at $8,283,000 after buying an additional 20,884 shares during the period. Geode Capital Management LLC increased its position in shares of Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after purchasing an additional 35,268 shares during the last quarter. Finally, Groupama Asset Managment grew its position in Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

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.