Wayfair (NYSE:W) Hits New 52-Week Low After Insider Selling

Wayfair Inc. (NYSE:W)’s share price reached a new 52-week low on Friday after an insider sold shares in the company. The stock traded as low as $22.99 and last traded at $22.74, with a volume of 184060 shares changing hands. The stock had previously closed at $25.09.

Specifically, CTO Fiona Tan sold 23,835 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. The trade was a 17.66 % 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. Also, insider Jon Blotner sold 19,257 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total transaction of $610,061.76. Following the transaction, the insider now owns 78,308 shares in the company, valued at $2,480,797.44. This represents a 19.74 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Kate Gulliver sold 19,296 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the sale, the chief financial officer now owns 144,474 shares of the company’s stock, valued at $4,575,491.58. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a report on Friday, February 21st. Wedbush reiterated a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Canaccord Genuity Group cut their price objective on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Wayfair Stock Down 9.6 %

The firm has a market cap of $2.88 billion, a PE ratio of -5.71 and a beta of 3.72. The firm’s fifty day simple moving average is $39.95 and its two-hundred day simple moving average is $44.87.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. True Wealth Design LLC lifted its holdings in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Wayfair during the fourth quarter valued at about $41,000. 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.