Wayfair (NYSE:W) Given New $43.00 Price Target at Royal Bank of Canada

Wayfair (NYSE:W - Free Report) had its target price reduced by Royal Bank of Canada from $50.00 to $43.00 in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other brokerages have also recently commented on W. Robert W. Baird dropped their price target on Wayfair from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Loop Capital cut their target price on Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. StockNews.com upgraded Wayfair from a "sell" rating to a "hold" rating in a report on Thursday, December 19th. BMO Capital Markets upped their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a "market perform" rating in a research note on Friday, February 21st. Finally, Citigroup cut their price objective on shares of Wayfair from $70.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.12.

Wayfair Trading Down 7.2 %

NYSE W traded down $3.08 during trading on Monday, hitting $39.54. The company had a trading volume of 4,002,437 shares, compared to its average volume of 3,762,897. The company's fifty day moving average is $45.82 and its 200-day moving average is $46.55. Wayfair has a one year low of $37.35 and a one year high of $76.18. The company has a market cap of $4.96 billion, a price-to-earnings ratio of -9.84 and a beta of 3.43.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the sale, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 8,249 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now directly owns 96,557 shares of the company's stock, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,228 shares of company stock valued at $7,830,018. 23.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP acquired a new stake in shares of Wayfair during the 3rd quarter worth about $78,652,000. Holocene Advisors LP boosted its position in Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company's stock worth $69,393,000 after acquiring an additional 1,213,896 shares during the last quarter. Capital World Investors grew its stake in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after acquiring an additional 782,757 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock worth $273,887,000 after purchasing an additional 740,641 shares during the period. Finally, Norges Bank acquired a new stake in shares of Wayfair during the fourth quarter worth $31,472,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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.