Wayfair (NYSE:W) Stock Price Down 3.1% – Here’s What Happened

Wayfair Inc. (NYSE:W)’s stock price traded down 3.1% during mid-day trading on Friday . The stock traded as low as $44.46 and last traded at $44.65. 574,550 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,606,279 shares. The stock had previously closed at $46.06.

Analysts Set New Price Targets

A number of equities analysts have recently commented on W shares. UBS Group dropped their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus dropped their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. BMO Capital Markets dropped their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Finally, Loop Capital upped their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Thirteen research 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. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Down 1.2 %

The business has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $47.83. The stock has a market capitalization of $5.71 billion, a P/E ratio of -10.14 and a beta of 3.44.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm 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 posted ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,036 shares of company stock valued at $4,551,431. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Wayfair during the 3rd quarter worth about $29,000. GAMMA Investing LLC raised its stake in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair in the third quarter valued at approximately $44,000. Brooklyn Investment Group bought a new position in Wayfair in the third quarter valued at approximately $50,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Wayfair during the 3rd quarter worth $67,000. Institutional investors and hedge funds 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.