Wayfair (NYSE:W) Hits New 12-Month Low - Here's Why

Wayfair Inc. (NYSE:W - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $30.86 and last traded at $30.94, with a volume of 232529 shares traded. The stock had previously closed at $32.10.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Wayfair from a "hold" rating to a "buy" rating and raised their price target for the company from $45.00 to $47.00 in a research report on Friday, March 7th. BMO Capital Markets lifted their price target on Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Friday, February 21st. Loop Capital lowered their price target on Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. StockNews.com raised Wayfair from a "sell" rating to a "hold" rating in a report on Thursday, December 19th. Finally, Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the stock an "overweight" rating in a research report on Friday, February 21st. Fourteen 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $56.81.

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Wayfair Stock Up 6.7 %

The business's 50-day simple moving average is $41.99 and its two-hundred day simple moving average is $45.50. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -8.37 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.07 billion. Sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 8,249 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the sale, the chief technology officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the transaction, the insider now owns 559,073 shares of the company's stock, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,189 shares of company stock worth $4,810,693 over the last ninety days. Company insiders own 26.81% of the company's stock.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently bought and sold shares of W. J.Safra Asset Management Corp grew its position in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after buying an additional 244 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. True Wealth Design LLC increased its position in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Wayfair by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock worth $3,860,000 after purchasing an additional 383 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after purchasing an additional 502 shares during the last quarter. Institutional investors and hedge funds 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.