Wayfair (NYSE:W) Stock Price Down 3.1% – Should You Sell?

Wayfair Inc. (NYSE:W) was down 3.1% during trading on Friday . The company traded as low as $44.46 and last traded at $44.65. Approximately 574,550 shares traded hands during trading, a decline of 64% from the average daily volume of 1,606,279 shares. The stock had previously closed at $46.06.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on W. Citigroup dropped their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus dropped their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Robert W. Baird cut their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Loop Capital boosted their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada cut their price objective on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Down 1.2 %

The company has a 50-day moving average price of $45.08 and a 200-day moving average price of $47.88. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -10.14 and a beta of 3.44.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the business earned ($1.38) EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts expect that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the sale, the insider now directly owns 602,573 shares in the company, valued at approximately $27,567,714.75. The trade was a 4.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,036 shares of company stock valued at $4,551,431. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in shares of Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares in the last quarter. GAMMA Investing LLC boosted its position in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Wayfair during the third quarter worth about $29,000. Optimist Retirement Group LLC increased its holdings in shares of Wayfair by 14.9% during the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock worth $231,000 after buying an additional 568 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Wayfair by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock valued at $381,000 after acquiring an additional 788 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.