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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on W shares. Guggenheim reaffirmed a “buy” rating and set a $70.00 target price on shares of Wayfair in a report on Thursday, September 26th. Loop Capital raised their price target on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Raymond James lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus cut their price objective on Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America lowered Wayfair from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.83.

Wayfair Trading Down 9.3 %

The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of -9.07 and a beta of 3.42. The company has a fifty day moving average price of $48.33 and a 200-day moving average price of $53.51.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned ($1.27) EPS. As a group, sell-side analysts predict that Wayfair Inc. will post -2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated 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 transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Wayfair news, insider Jon Blotner sold 4,600 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,891 shares of company stock worth $2,007,213. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently added to or reduced their stakes in W. Creative Planning boosted its holdings in Wayfair by 2.1% during the third quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after purchasing an additional 272 shares during the last quarter. CWM LLC raised its stake in Wayfair by 91.4% in the third quarter. CWM LLC now owns 4,981 shares of the company’s stock valued at $280,000 after buying an additional 2,378 shares during the period. Chemistry Wealth Management LLC raised its stake in Wayfair by 7.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 35,249 shares of the company’s stock valued at $1,980,000 after acquiring an additional 2,569 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Wayfair by 30.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock worth $1,433,000 after buying an additional 6,000 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Wayfair by 12.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company’s stock worth $6,673,000 after acquiring an additional 13,832 shares during the last quarter. 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.