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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on W shares. The Goldman Sachs Group decreased their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Loop Capital raised their target price on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Raymond James reduced their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Wedbush dropped their target price on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Wayfair Price Performance

The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -9.07 and a beta of 3.42. The stock has a 50 day moving average price of $48.33 and a two-hundred day moving average price of $53.51.

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

Insider Activity

In other news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,891 shares of company stock worth $2,007,213 in the last quarter. 26.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of W. Creative Planning grew its holdings in shares of Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after acquiring an additional 272 shares during the period. CWM LLC boosted its holdings in Wayfair by 91.4% in the 3rd quarter. CWM LLC now owns 4,981 shares of the company’s stock worth $280,000 after buying an additional 2,378 shares during the period. Chemistry Wealth Management LLC increased 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 worth $1,980,000 after buying an additional 2,569 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Wayfair by 30.8% during the third quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock valued at $1,433,000 after acquiring an additional 6,000 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Wayfair by 12.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company’s stock valued at $6,673,000 after acquiring an additional 13,832 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.