Wayfair Inc. (NYSE:W - Get Free Report)'s stock price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $33.72, but opened at $28.23. Wayfair shares last traded at $24.44, with a volume of 3,120,147 shares changing hands.
Specifically, CTO Fiona Tan sold 23,835 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now directly owns 111,128 shares in the company, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 19,257 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the sale, the insider now directly owns 78,308 shares in the company, valued at approximately $2,480,797.44. The trade was a 19.74 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Kate Gulliver sold 19,296 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. This trade represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Analyst Ratings Changes
W has been the subject of several recent research reports. Royal Bank of Canada lowered their price objective on shares of Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a research note on Monday, February 24th. Wedbush reissued a "neutral" rating and issued a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Loop Capital cut their price objective 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 upgraded Wayfair from a "sell" rating to a "hold" rating in a report on Thursday, December 19th. Finally, Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Wayfair in a report on Monday, March 10th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $54.84.
Get Our Latest Stock Report on W
Wayfair Price Performance
The company has a 50 day moving average price of $39.50 and a 200 day moving average price of $44.72. The firm has a market cap of $3.29 billion, a PE ratio of -6.46 and a beta of 3.72.
Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, equities analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Wayfair
A number of institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares during the period. J.Safra Asset Management Corp increased its stake in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. GAMMA Investing LLC boosted 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 worth $31,000 after buying an additional 281 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 89.67% of the company's stock.
About Wayfair
(
Get Free Report)
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.
See Also
Before you consider Wayfair, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wayfair wasn't on the list.
While Wayfair currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
