Wayfair (NYSE:W) Reaches New 12-Month Low - What's Next?

Wayfair Inc. (NYSE:W - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock traded as low as $37.04 and last traded at $36.94, with a volume of 2354013 shares traded. The stock had previously closed at $39.55.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wedbush reissued a "neutral" rating and issued a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Wayfair in a research note on Friday, February 21st. Canaccord Genuity Group decreased their target price on Wayfair from $76.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Loop Capital cut their price target on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Finally, Raymond James set a $60.00 price objective on shares of Wayfair and gave the stock a "strong-buy" rating in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.12.

Wayfair Trading Up 1.9 %

The stock's fifty day moving average price is $45.22 and its two-hundred day moving average price is $46.46. The stock has a market capitalization of $4.35 billion, a P/E ratio of -8.53 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.07 billion. As a group, analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kate Gulliver sold 5,974 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the transaction, the chief financial officer now owns 129,964 shares of the company's stock, valued at approximately $5,841,881.80. This represents a 4.39 % 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, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the sale, the insider now owns 632,573 shares in the company, valued at $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,228 shares of company stock valued at $7,830,018. Insiders own 23.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tabor Asset Management LP lifted its position in Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company's stock valued at $8,813,000 after acquiring an additional 15,932 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company's stock valued at $56,180,000 after purchasing an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Wayfair during the fourth quarter valued at $6,799,000. Wellington Management Group LLP boosted its position in shares of Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company's stock valued at $61,676,000 after buying an additional 201,157 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in Wayfair in the 3rd quarter worth about $1,070,000. 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.