Wayfair (NYSE:W) Downgraded by Deutsche Bank Aktiengesellschaft to Hold

Deutsche Bank Aktiengesellschaft cut shares of Wayfair (NYSE:W) from a buy rating to a hold rating in a research note issued to investors on Monday, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has $25.00 price target on the stock.

A number of other analysts have also issued reports on the company. Truist Financial cut their target price on Wayfair from $53.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wedbush reiterated a “neutral” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Piper Sandler set a $58.00 target price on Wayfair and gave the company an “overweight” rating in a report on Friday, February 21st. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Wayfair in a research note on Monday, March 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Sixteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.92.

Wayfair Trading Up 0.7 %

NYSE W opened at $27.14 on Monday. The stock has a fifty day simple moving average of $36.06 and a 200-day simple moving average of $43.19. The stock has a market cap of $3.44 billion, a PE ratio of -6.75 and a beta of 3.72. Wayfair has a twelve month low of $20.41 and a twelve month high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. Research analysts predict that Wayfair will post -2.54 EPS for the current year.

Insider Transactions at Wayfair

In other news, CFO Kate Gulliver sold 19,296 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at approximately $4,575,491.58. This trade represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total transaction of $610,061.76. Following the completion of the transaction, the insider now directly owns 78,308 shares in the company, valued at $2,480,797.44. The trade was a 19.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,863 shares of company stock worth $4,847,429. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. True Wealth Design LLC grew its holdings in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after buying an additional 381 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the 4th quarter valued at $41,000. 89.67% of the stock is currently 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.