Wayfair (NYSE:W) Stock Price Down 5.4% – Here’s What Happened

Wayfair Inc. (NYSE:W) shares traded down 5.4% during trading on Monday . The stock traded as low as $49.24 and last traded at $49.41. 4,163,477 shares changed hands during trading, a decline of 2% from the average session volume of 4,242,423 shares. The stock had previously closed at $52.21.

Analyst Ratings Changes

A number of research analysts recently issued reports on W shares. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research note on Wednesday. Barclays lowered their target price on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. UBS Group lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday. Loop Capital raised their target price on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.20.

Wayfair Stock Down 3.1 %

The stock’s 50-day moving average price is $48.62 and its 200-day moving average price is $53.29. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of -8.93 and a beta of 3.42.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the company earned ($1.27) EPS. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Wayfair Inc. will post -2.68 EPS for the current year.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the sale, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,891 shares of company stock valued at $2,007,213. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in W. Riverview Trust Co acquired a new stake in Wayfair in the first quarter valued at $27,000. ORG Partners LLC acquired a new stake in Wayfair in the first quarter valued at $37,000. International Assets Investment Management LLC acquired a new stake in Wayfair in the second quarter valued at $58,000. Comerica Bank lifted its stake in Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after acquiring an additional 471 shares during the last quarter. Institutional investors and hedge funds 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.