Wayfair Inc. (W) Trading Down 6.2% on Insider Selling
Wayfair Inc. (NYSE:W) shares traded down 6.2% during mid-day trading on Friday following insider selling activity. The stock traded as low as $33.25 and last traded at $33.30, with a volume of 2,055,272 shares. The stock had previously closed at $35.51.
Specifically, insider Nicholas Malone sold 6,400 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $43.06, for a total transaction of $275,584.00. Following the sale, the insider now owns 10,705 shares of the company’s stock, valued at $460,957.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $40.05, for a total value of $480,600.00. Following the sale, the chief executive officer now directly owns 70,000 shares in the company, valued at approximately $2,803,500. The disclosure for this sale can be found here. 63.94% of the stock is owned by company insiders.
W has been the topic of a number of research analyst reports. Goldman Sachs Group Inc. lowered Wayfair from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $46.00 to $43.00 in a research report on Wednesday, August 10th. Veritas Investment Research reiterated a “hold” rating on shares of Wayfair in a report on Friday, August 5th. Zacks Investment Research downgraded Wayfair from a “buy” rating to a “sell” rating in a report on Saturday, August 13th. Pacific Crest reiterated an “equal weight” rating on shares of Wayfair in a report on Sunday, August 14th. Finally, Vetr downgraded Wayfair from a “strong-buy” rating to a “buy” rating and set a $42.28 price objective for the company. in a report on Friday, August 12th. Fourteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.15.
The firm has a 50 day moving average of $35.78 and a 200-day moving average of $38.95. The stock’s market capitalization is $2.83 billion.
Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, November 8th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.05. Wayfair had a negative return on equity of 91.94% and a negative net margin of 5.29%. The business earned $861.50 million during the quarter, compared to analyst estimates of $849.42 million. During the same period in the prior year, the company earned ($0.13) earnings per share. Wayfair’s revenue was up 45.0% compared to the same quarter last year. Equities analysts predict that Wayfair Inc. will post ($1.84) earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its position in shares of Wayfair by 20.3% in the second quarter. Swiss National Bank now owns 45,600 shares of the company’s stock valued at $1,778,000 after buying an additional 7,700 shares during the period. New Jersey Better Educational Savings Trust bought a new stake in Wayfair during the second quarter valued at about $585,000. State of New Jersey Common Pension Fund D increased its stake in Wayfair by 60.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 708,000 shares of the company’s stock valued at $27,612,000 after buying an additional 268,000 shares in the last quarter. Northeast Investment Management increased its stake in Wayfair by 14.8% in the second quarter. Northeast Investment Management now owns 142,139 shares of the company’s stock valued at $5,543,000 after buying an additional 18,301 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Wayfair during the second quarter valued at about $107,000. 71.49% of the stock is owned by institutional investors and hedge funds.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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