Wayfair (NYSE:W) Stock Price Down 5.8% – Time to Sell?

Shares of Wayfair Inc. (NYSE:W) dropped 5.8% during mid-day trading on Monday . The company traded as low as $97.62 and last traded at $97.70. 1,034,477 shares traded hands during trading, a decline of 72% from the average session volume of 3,671,767 shares. The stock had previously closed at $103.76.

Wall Street Analysts Forecast Growth

W has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $120.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. Zacks Research upgraded Wayfair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Mizuho reduced their price target on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Finally, Guggenheim raised their price target on shares of Wayfair from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $119.89.

Wayfair Price Performance

The firm has a market cap of $12.39 billion, a P/E ratio of -38.14, a PEG ratio of 3.99 and a beta of 2.99. The company’s 50-day moving average is $95.97 and its two-hundred day moving average is $81.85.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Wayfair Inc. will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 69,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the sale, the chief executive officer owned 360,137 shares in the company, valued at $37,223,760.32. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the sale, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 143,925 shares of company stock valued at $14,834,198. 18.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP increased its stake in shares of Wayfair by 151.7% in the 2nd quarter. Corient Private Wealth LP now owns 135,582 shares of the company’s stock worth $12,530,000 after acquiring an additional 81,719 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Wayfair during the second quarter valued at $2,001,000. California State Teachers Retirement System boosted its holdings in Wayfair by 9,141.5% in the second quarter. California State Teachers Retirement System now owns 11,068,681 shares of the company’s stock worth $1,022,967,000 after acquiring an additional 10,948,909 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Wayfair in the second quarter worth $1,298,000. Finally, HB Wealth Management LLC purchased a new position in shares of Wayfair in the 2nd quarter worth about $394,000. 89.67% of the stock is owned by institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.