Wayfair (NYSE:W) Stock Price Down 3.1% – What’s Next?

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

Analyst Ratings Changes

A number of research analysts have recently commented on W shares. Royal Bank of Canada dropped their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Guggenheim reaffirmed a “buy” rating and set a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 4th. BMO Capital Markets cut their target price on 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, Stifel Nicolaus lowered their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Down 1.2 %

The firm has a market cap of $5.70 billion, a P/E ratio of -10.14 and a beta of 3.44. The firm’s 50-day moving average price is $45.08 and its 200 day moving average price is $47.88.

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

Insider Activity

In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $45.75, for a total value of $1,372,500.00. Following the transaction, the insider now directly owns 602,573 shares in the company, valued at approximately $27,567,714.75. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,036 shares of company stock valued at $4,551,431. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently added to or reduced their stakes in W. Capital Performance Advisors LLP acquired a new stake in Wayfair during the 3rd quarter worth about $29,000. GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair in the 3rd quarter worth approximately $44,000. Brooklyn Investment Group purchased a new position in Wayfair during the 3rd quarter worth approximately $50,000. Finally, International Assets Investment Management LLC acquired a new stake in Wayfair during the 2nd quarter valued at $58,000. 89.67% of the stock is currently owned by 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.