Wayfair (NYSE:W) Trading Down 4.2% on Insider Selling

Wayfair Inc. (NYSE:W)’s stock price was down 4.2% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $43.30 and last traded at $43.56. Approximately 831,229 shares traded hands during trading, a decline of 81% from the average daily volume of 4,395,498 shares. The stock had previously closed at $45.45.

Specifically, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Mizuho dropped their price target on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Wayfair in a report on Friday, November 1st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Loop Capital boosted their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Price Performance

The business’s 50-day moving average is $46.29 and its two-hundred day moving average is $48.74. The firm has a market cap of $5.48 billion, a P/E ratio of -9.74 and a beta of 3.44.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) EPS. Equities research analysts predict that Wayfair Inc. will post -2.91 EPS for the current year.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the business. Creative Planning boosted its position in shares of Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after acquiring an additional 272 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair during the 3rd quarter worth $29,000. Optimist Retirement Group LLC increased its position in shares of Wayfair by 14.9% in the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock worth $231,000 after purchasing an additional 568 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Wayfair by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after purchasing an additional 788 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Wayfair in the 3rd quarter valued at about $44,000. 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.