Wayfair (NYSE:W) Trading Down 5.4% – Time to Sell?

Wayfair Inc. (NYSE:W) traded down 5.4% on Tuesday . The company traded as low as $90.01 and last traded at $90.4790. 1,107,364 shares were traded during trading, a decline of 71% from the average daily volume of 3,850,569 shares. The stock had previously closed at $95.63.

Wall Street Analysts Forecast Growth

W has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $79.00 price objective on Wayfair in a research report on Friday, May 1st. Truist Financial set a $99.00 target price on Wayfair in a report on Monday, June 8th. Weiss Ratings upgraded Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Citigroup dropped their price target on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company cut their price target on Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.68.

Wayfair Trading Down 1.4%

The stock has a market cap of $12.39 billion, a P/E ratio of -40.05, a price-to-earnings-growth ratio of 4.86 and a beta of 2.96. The stock has a 50 day simple moving average of $74.32 and a 200 day simple moving average of $84.39.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the business earned $0.10 earnings per share. Wayfair’s revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that Wayfair Inc. will post 0.63 earnings per share for the current year.

Insider Activity at Wayfair

In other news, Director Steven Conine sold 112,861 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the sale, the director directly owned 436,212 shares in the company, valued at approximately $33,806,430. This trade represents a 20.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the completion of the sale, the chief executive officer owned 435,274 shares in the company, valued at $33,729,382.26. This represents a 20.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 240,000 shares of company stock valued at $18,613,231. Company insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds have recently made changes to their positions in the company. Webster Bank N. A. acquired a new position in shares of Wayfair during the fourth quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Wayfair during the 4th quarter worth approximately $33,000. Piper Sandler & CO. acquired a new stake in Wayfair in the fourth quarter worth $34,000. Havemeyer Place LP acquired a new stake in shares of Wayfair in the 4th quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after acquiring an additional 653 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.