Wayfair (NYSE:W) Stock Price Down 4.2% Following Insider Selling

Wayfair Inc. (NYSE:W) shares traded 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. 831,229 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,395,498 shares. The stock had previously closed at $45.45.

Specifically, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

Several analysts have recently commented on W shares. Piper Sandler reduced their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Truist Financial decreased their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wedbush decreased their target price on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Robert W. Baird dropped their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Citigroup cut their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Thirteen 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 stock. According to MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Up 4.5 %

The stock has a market cap of $5.73 billion, a PE ratio of -10.18 and a beta of 3.44. The business’s 50-day simple moving average is $46.12 and its 200-day simple moving average is $48.65.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the company earned ($1.38) earnings per share. Wayfair’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. Capital Performance Advisors LLP purchased a new stake in Wayfair during the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Wayfair in the third quarter worth about $44,000. Brooklyn Investment Group purchased a new position in shares of Wayfair during the 3rd quarter valued at about $50,000. International Assets Investment Management LLC bought a new position in shares of Wayfair during the 2nd quarter valued at approximately $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Wayfair during the third quarter valued at approximately $67,000. Institutional investors 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.