Wayfair (NYSE:W) Hits New 12-Month Low on Insider Selling

Shares of Wayfair Inc. (NYSE:W) hit a new 52-week low during trading on Friday after an insider sold shares in the company. The company traded as low as $22.99 and last traded at $22.74, with a volume of 184060 shares changing hands. The stock had previously closed at $25.09.

Specifically, CTO Fiona Tan sold 23,835 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the sale, the insider now directly owns 78,308 shares of the company’s stock, valued at approximately $2,480,797.44. This trade represents a 19.74 % decrease in their position. The disclosure for this sale can be found here. In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the completion of the transaction, the chief financial officer now directly owns 144,474 shares of the company’s stock, valued at $4,575,491.58. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several analysts have weighed in on W shares. BMO Capital Markets raised their price target on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, February 21st. Royal Bank of Canada lowered their target price on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their price target on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Canaccord Genuity Group dropped their price objective on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Truist Financial reduced their target price on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.84.

Wayfair Trading Up 3.4 %

The company’s fifty day simple moving average is $39.50 and its 200 day simple moving average is $44.72. The firm has a market capitalization of $3.29 billion, a P/E ratio of -6.46 and a beta of 3.72.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS 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 analyst estimates of $3.07 billion. On average, analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares in the last quarter. J.Safra Asset Management Corp raised its stake in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Wayfair by 577.0% during 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Wayfair in the 4th quarter worth about $41,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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.