Wayfair (NYSE:W) Sets New 12-Month Low – Time to Sell?

Wayfair Inc. (NYSE:W) shares hit a new 52-week low on Tuesday . The stock traded as low as $30.86 and last traded at $30.94, with a volume of 232529 shares trading hands. The stock had previously closed at $32.10.

Wall Street Analysts Forecast Growth

W has been the topic of several analyst reports. Loop Capital lowered their price target on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Stifel Nicolaus reduced their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Wayfair in a report on Friday, February 21st. Finally, Canaccord Genuity Group cut their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Stock Performance

The stock has a market cap of $3.77 billion, a P/E ratio of -7.46 and a beta of 3.44. The business has a 50 day simple moving average of $43.06 and a 200-day simple moving average of $45.81.

Wayfair (NYSE:W) last posted its quarterly 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, sell-side analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other news, CFO Kate Gulliver sold 5,974 shares of Wayfair stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the sale, the chief financial officer now directly owns 129,964 shares in the company, valued at approximately $5,841,881.80. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the sale, the insider now owns 602,573 shares in the company, valued at $27,567,714.75. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,189 shares of company stock valued at $6,183,193. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Hedge funds have recently bought and sold shares of the stock. Southpoint Capital Advisors LP purchased a new stake in shares of Wayfair in the third quarter worth approximately $78,652,000. Holocene Advisors LP boosted its position in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after acquiring an additional 1,213,896 shares in the last quarter. Capital World Investors boosted its position in Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after acquiring an additional 782,757 shares in the last quarter. Baillie Gifford & Co. boosted its position in Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Wayfair during the 4th quarter valued at $31,472,000. Institutional investors own 89.67% of the company’s stock.

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.