Wayfair (NYSE:W) Trading Down 5.6% – Here’s What Happened

by · The Cerbat Gem

Wayfair Inc. (NYSE:W – Get Free Report) shares were down 5.6% during trading on Tuesday . The stock traded as low as $103.50 and last traded at $103.9160. Approximately 830,826 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,687,832 shares. The stock had previously closed at $110.04.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $75.00 target price on Wayfair in a research report on Friday, October 24th. Zacks Research cut shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Oppenheimer upped their price target on Wayfair from $100.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Truist Financial boosted their price objective on Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, BMO Capital Markets set a $110.00 price objective on Wayfair and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.57.

View Our Latest Stock Report on W

Wayfair Trading Down 7.2%

The company has a 50 day moving average price of $94.16 and a 200 day moving average price of $73.55. The firm has a market cap of $13.31 billion, a PE ratio of -39.83 and a beta of 3.25.

Wayfair (NYSE:W – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven Conine sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the sale, the insider directly owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the transaction, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at $77,222,899.67. This trade represents a 17.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 955,959 shares of company stock worth $88,260,274 in the last three months. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after buying an additional 276,471 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Wayfair in the second quarter valued at approximately $1,512,000. Jacobs Levy Equity Management Inc. acquired a new stake in Wayfair in the first quarter valued at approximately $452,000. Signaturefd LLC lifted its position in shares of Wayfair by 10.1% during the second quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after purchasing an additional 34,507 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Wayfair by 40.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company’s stock worth $603,000 after purchasing an additional 3,395 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

(Get Free Report)

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.

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