Wayfair (NYSE:W) Stock Price Down 6.6% – Here’s Why

Shares of Wayfair Inc. (NYSE:WGet Free Report) fell 6.6% on Thursday . The company traded as low as $69.17 and last traded at $70.28. 424,962 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 3,616,623 shares. The stock had previously closed at $75.25.

Trending Headlines about Wayfair

Here are the key news stories impacting Wayfair this week:

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a research note on Wednesday, January 21st. Stifel Nicolaus lowered their price target on shares of Wayfair from $100.00 to $89.00 and set a “hold” rating for the company in a report on Friday, February 20th. JPMorgan Chase & Co. dropped their price target on Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Robert W. Baird reduced their price objective on Wayfair from $98.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Wayfair in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.62.

View Our Latest Report on W

Wayfair Trading Down 4.2%

The stock has a 50 day moving average of $84.26 and a 200-day moving average of $92.98. The stock has a market capitalization of $9.43 billion, a P/E ratio of -29.74, a price-to-earnings-growth ratio of 5.56 and a beta of 3.40.

Wayfair (NYSE:WGet Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.30 billion. Wayfair had a negative return on equity of 1.52% and a negative net margin of 2.51%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.25) earnings per share. Research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other news, CFO Kate Gulliver sold 36,497 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $106.50, for a total transaction of $3,886,930.50. Following the transaction, the chief financial officer owned 149,238 shares of the company’s stock, valued at approximately $15,893,847. This represents a 19.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Fiona Tan sold 9,000 shares of Wayfair stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $119.00, for a total value of $1,071,000.00. Following the completion of the sale, the chief technology officer owned 200,328 shares of the company’s stock, valued at $23,839,032. The trade was a 4.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 809,489 shares of company stock valued at $73,192,965. 21.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC lifted its holdings in Wayfair by 215.3% during the fourth quarter. Hsbc Holdings PLC now owns 129,707 shares of the company’s stock worth $13,038,000 after buying an additional 88,567 shares during the period. Corient Private Wealth LLC boosted its position in Wayfair by 17.4% during the fourth quarter. Corient Private Wealth LLC now owns 12,765 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,890 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in Wayfair in the fourth quarter valued at about $363,000. Compound Planning Inc. purchased a new stake in shares of Wayfair during the fourth quarter valued at about $223,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Wayfair by 60.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 26,536 shares of the company’s stock valued at $2,664,000 after buying an additional 9,994 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wayfair Company Profile

(Get Free Report)

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.

Further Reading

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