Wayfair (NYSE:W) Shares Down 5.8% – Time to Sell?

Wayfair Inc. (NYSE:W)’s stock price dropped 5.8% during trading on Monday . The company traded as low as $97.62 and last traded at $97.70. 1,034,477 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 3,671,767 shares. The stock had previously closed at $103.76.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $120.00 price objective on shares of Wayfair in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and issued a $108.00 target price on shares of Wayfair in a report on Tuesday, August 4th. BMO Capital Markets boosted their price target on shares of Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. TD Cowen upped their price target on shares of Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Citigroup increased their price objective on shares of Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.89.

Wayfair Price Performance

The firm has a market capitalization of $12.88 billion, a PE ratio of -39.67, a P/E/G ratio of 4.17 and a beta of 2.99. The business has a 50-day simple moving average of $95.51 and a 200-day simple moving average of $81.75.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. On average, research analysts expect that Wayfair Inc. will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In related news, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction dated Wednesday, August 12th. 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 360,073 shares of the company’s stock, valued at approximately $37,217,145.28. The trade was a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the transaction, the chief executive officer owned 360,137 shares in the company, valued at $37,223,760.32. The trade was a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 143,925 shares of company stock worth $14,834,198 over the last quarter. Insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of W. Havemeyer Place LP purchased a new stake in shares of Wayfair in the fourth quarter worth approximately $39,000. Kestra Advisory Services LLC purchased a new position in Wayfair during the 4th quarter valued at $44,000. Larson Financial Group LLC grew its position in Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after acquiring an additional 120 shares during the last quarter. Comerica Bank grew its position in Wayfair by 56.5% in the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock valued at $57,000 after acquiring an additional 229 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in Wayfair in the fourth quarter worth $71,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

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.