Wayfair (NYSE:W) Sets New 12-Month Low – Time to Sell?

Wayfair Inc. (NYSE:W)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $30.86 and last traded at $30.94, with a volume of 232529 shares. The stock had previously closed at $32.10.

Wall Street Analysts Forecast Growth

W has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research report on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Monday, March 10th. Bank of America reduced their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Trading Down 7.5 %

The company’s 50 day moving average is $43.06 and its 200 day moving average is $45.81. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -7.46 and a beta of 3.44.

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

Insider Activity

In other Wayfair news, insider Jon Blotner sold 4,521 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.88, for a total transaction of $211,944.48. Following the completion of the sale, the insider now directly owns 63,568 shares in the company, valued at $2,980,067.84. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the sale, the insider now owns 602,573 shares of the company’s stock, valued at approximately $27,567,714.75. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,189 shares of company stock valued at $6,183,193 over the last quarter. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in Wayfair by 71.3% during the fourth 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 in the last quarter. Jones Financial Companies Lllp lifted its stake in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. GAMMA Investing LLC lifted its stake in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Wayfair in the fourth quarter worth approximately $41,000. 89.67% of the stock is owned by institutional investors and hedge funds.

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.