Wayfair (NYSE:W) Trading Down 7.6% – What’s Next?

Wayfair Inc. (NYSE:W)’s share price traded down 7.6% during mid-day trading on Wednesday . The company traded as low as $101.92 and last traded at $99.1970. 258,938 shares were traded during mid-day trading, a decline of 93% from the average session volume of 3,552,230 shares. The stock had previously closed at $107.35.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on W shares. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a research note on Wednesday, August 5th. Zacks Research raised Wayfair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Jefferies Financial Group restated a “hold” rating and set a $108.00 price objective on shares of Wayfair in a report on Tuesday, August 4th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Wayfair in a research note on Tuesday, September 1st. Finally, Citigroup upped their price target on shares of Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.89.

Wayfair Trading Down 7.6%

The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of -40.28, a PEG ratio of 3.77 and a beta of 2.99. The stock has a 50-day moving average price of $98.69 and a 200 day moving average price of $84.14.

Wayfair (NYSE:W) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Wayfair Inc. will post 0.93 earnings per share for the current year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 6,968 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the sale, the insider directly owned 110,376 shares in the company, valued at $11,061,882.72. This represents a 5.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the transaction, the director directly owned 291,073 shares of the company’s stock, valued at $30,085,305.28. This represents a 19.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 288,893 shares of company stock worth $29,795,521 over the last three months. Company insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several large investors have recently bought and sold shares of the stock. Havemeyer Place LP purchased a new stake in Wayfair in the fourth quarter valued at $39,000. Larson Financial Group LLC grew its holdings in shares of Wayfair by 36.2% during the fourth quarter. Larson Financial Group LLC now owns 708 shares of the company’s stock worth $71,000 after purchasing an additional 188 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Wayfair by 79.2% during the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after purchasing an additional 358 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in shares of Wayfair during the first quarter worth about $83,000. Finally, Rothschild Investment LLC increased its position in shares of Wayfair by 27.9% during the fourth quarter. Rothschild Investment LLC now owns 1,401 shares of the company’s stock worth $141,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.