Wayfair (NYSE:W) Stock Price Down 4.9%

Wayfair Inc. (NYSE:W)’s share price traded down 4.9% during mid-day trading on Monday . The company traded as low as $56.31 and last traded at $57.39. 2,132,497 shares changed hands during trading, a decline of 50% from the average session volume of 4,228,778 shares. The stock had previously closed at $60.34.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Raymond James raised Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a research report on Friday, February 16th. Mizuho assumed coverage on Wayfair in a research report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Wayfair in a research report on Friday, February 23rd. Citigroup raised their target price on Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Barclays reduced their target price on Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, January 4th. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.03.

Wayfair Stock Performance

The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -8.49 and a beta of 3.29. The company has a 50-day moving average price of $59.25 and a 200-day moving average price of $55.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts anticipate that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the sale, the chief executive officer now owns 267,437 shares in the company, valued at approximately $13,912,072.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Wayfair news, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the sale, the chief executive officer now owns 267,437 shares in the company, valued at approximately $13,912,072.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the sale, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. In the last three months, insiders sold 85,664 shares of company stock worth $5,194,427. 23.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently made changes to their positions in W. HighTower Advisors LLC raised its stake in Wayfair by 16.9% in the 1st quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock valued at $259,000 after acquiring an additional 342 shares during the period. MetLife Investment Management LLC bought a new stake in Wayfair in the 1st quarter valued at $378,000. Panagora Asset Management Inc. raised its stake in Wayfair by 42.7% in the 1st quarter. Panagora Asset Management Inc. now owns 2,204 shares of the company’s stock valued at $244,000 after acquiring an additional 659 shares during the period. Vontobel Holding Ltd. raised its stake in Wayfair by 51.6% in the 1st quarter. Vontobel Holding Ltd. now owns 12,740 shares of the company’s stock valued at $1,548,000 after acquiring an additional 4,338 shares during the period. Finally, Aviva PLC raised its stake in Wayfair by 1.5% in the 1st quarter. Aviva PLC now owns 23,470 shares of the company’s stock valued at $2,600,000 after acquiring an additional 346 shares during the period. 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.