Wayfair (NYSE:W) Trading Down 6.1% – Time to Sell?

Wayfair Inc. (NYSE:W) dropped 6.1% during trading on Tuesday . The stock traded as low as $45.21 and last traded at $45.33. Approximately 2,438,593 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 4,444,002 shares. The stock had previously closed at $48.27.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Robert W. Baird dropped 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. StockNews.com lowered shares of Wayfair from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Barclays reduced their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. BMO Capital Markets lowered their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada dropped their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Price Performance

The stock has a 50-day simple moving average of $47.66 and a two-hundred day simple moving average of $50.21.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the firm earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Wayfair Inc. will post -2.89 earnings per share for the current year.

Insider Activity

In other news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,868 shares of company stock valued at $3,272,548 in the last ninety days. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Wayfair during the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Wayfair during the third quarter valued at about $44,000. Brooklyn Investment Group purchased a new position in shares of Wayfair in the third quarter valued at about $50,000. International Assets Investment Management LLC bought a new position in shares of Wayfair in the second quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Wayfair during the third quarter worth about $67,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.