Wayfair (NYSE:W) Trading Down 3.1% – Should You Sell?

Wayfair Inc. (NYSE:W)’s share price fell 3.1% on Friday . The stock traded as low as $44.46 and last traded at $44.65. 574,550 shares changed hands during trading, a decline of 64% from the average session volume of 1,606,279 shares. The stock had previously closed at $46.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on W shares. Royal Bank of Canada decreased their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Loop Capital boosted their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Mizuho decreased their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Truist Financial lowered their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Trading Down 1.2 %

The firm’s 50-day simple moving average is $45.10 and its two-hundred day simple moving average is $47.83. The stock has a market capitalization of $5.71 billion, a PE ratio of -10.14 and a beta of 3.44.

Wayfair (NYSE:W) last issued 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 analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.38) EPS. As a group, research analysts expect that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insider Activity

In other news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,036 shares of company stock worth $4,551,431 in the last 90 days. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased 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 acquiring an additional 281 shares during the last quarter. 272 Capital LP boosted its position in Wayfair by 15.7% during the third quarter. 272 Capital LP now owns 44,053 shares of the company’s stock worth $2,475,000 after purchasing an additional 5,965 shares during the period. Tidal Investments LLC grew its holdings in Wayfair by 18.1% during the third quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after purchasing an additional 3,320 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Wayfair by 16.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock valued at $8,283,000 after purchasing an additional 20,884 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Wayfair by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after buying an additional 35,268 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

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.