Wayfair (NYSE:W) Shares Down 4.2%

Wayfair Inc. (NYSE:W)’s stock price was down 4.2% during mid-day trading on Tuesday . The stock traded as low as $41.20 and last traded at $41.37. Approximately 526,945 shares changed hands during trading, a decline of 88% from the average daily volume of 4,225,972 shares. The stock had previously closed at $43.18.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on W shares. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Wayfair in a report on Thursday, May 16th. Wedbush reduced their target price on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Bank of America cut shares of Wayfair from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on shares of Wayfair from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. 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’s stock. According to MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average target price of $65.63.

Wayfair Stock Performance

The company’s fifty day simple moving average is $47.30 and its two-hundred day simple moving average is $55.40. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -7.96 and a beta of 3.41.

Wayfair (NYSE:W) last released its earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the company posted ($1.27) earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Wayfair Inc. will post -2.66 EPS for the current year.

Insider Buying and Selling at Wayfair

In related news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the sale, the chief technology officer now owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the completion of the transaction, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Blotner sold 4,395 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders sold a total of 40,102 shares of company stock worth $2,076,659 over the last ninety days. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co purchased a new stake in Wayfair in the 1st quarter worth about $27,000. ORG Partners LLC acquired a new position in shares of Wayfair during the 1st quarter worth $37,000. International Assets Investment Management LLC bought a new position in shares of Wayfair during the 2nd quarter valued at $58,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Wayfair in the 4th quarter valued at $74,000. Finally, Comerica Bank boosted its holdings in Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.