Wayfair (NYSE:W) Shares Down 5.6% – Here’s Why

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on W shares. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of Wayfair in a research note on Friday, October 24th. Truist Financial increased their price objective on Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Canaccord Genuity Group boosted their target price on shares of Wayfair from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on shares of Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Argus raised their target price on shares of Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.29.

Wayfair Price Performance

The business has a fifty day moving average of $94.98 and a 200-day moving average of $74.28. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of -36.98 and a beta of 3.25.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 150,000 shares of Wayfair stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00. Following the transaction, the chief executive officer directly owned 729,137 shares in the company, valued at $77,222,899.67. The trade was a 17.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Fiona Tan sold 6,347 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total value of $638,127.38. Following the sale, the chief technology officer directly owned 198,860 shares in the company, valued at $19,993,384.40. This trade represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 955,959 shares of company stock valued at $88,260,274. 21.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised 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 valued at $16,786,000 after purchasing an additional 276,471 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Wayfair in the 2nd quarter valued at $1,512,000. Jacobs Levy Equity Management Inc. bought a new position in Wayfair in the 1st quarter worth $452,000. Signaturefd LLC lifted its position in Wayfair by 10.1% during the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after acquiring an additional 34,507 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Wayfair by 40.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company’s stock valued at $603,000 after acquiring an additional 3,395 shares during the period. 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.