Wayfair (NYSE:W) Shares Down 8% - Here's Why

Wayfair Inc. (NYSE:W - Get Free Report) shares were down 8% during trading on Tuesday . The stock traded as low as $26.05 and last traded at $25.23. Approximately 2,344,275 shares were traded during trading, a decline of 48% from the average daily volume of 4,494,000 shares. The stock had previously closed at $27.44.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Wayfair from a "hold" rating to a "buy" rating and increased their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Royal Bank of Canada cut their target price on Wayfair from $50.00 to $43.00 and set a "sector perform" rating for the company in a research note on Monday, February 24th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Wayfair in a research note on Friday, February 21st. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Wayfair in a report on Monday, March 10th. Finally, Raymond James set a $60.00 target price on Wayfair and gave the company a "strong-buy" rating in a report on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wayfair currently has an average rating of "Hold" and an average target price of $54.16.

Wayfair Stock Up 2.4 %

The stock has a fifty day moving average of $36.48 and a two-hundred day moving average of $43.47. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -6.69 and a beta of 3.72.

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Wayfair (NYSE:W - Get Free Report) last released 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 firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Conine sold 30,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00. Following the completion of the sale, the insider now owns 589,073 shares of the company's stock, valued at $28,540,586.85. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Blotner sold 5,669 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the sale, the insider now owns 57,899 shares in the company, valued at approximately $2,479,814.17. The trade was a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,532 shares of company stock worth $5,090,232 over the last ninety days. 23.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Chemistry Wealth Management LLC increased its position in shares of Wayfair by 16.1% during the first quarter. Chemistry Wealth Management LLC now owns 39,781 shares of the company's stock worth $1,274,000 after acquiring an additional 5,526 shares during the last quarter. Rhumbline Advisers raised its position in shares of Wayfair by 4.3% in the 1st quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock valued at $2,923,000 after purchasing an additional 3,725 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Wayfair by 5,850.4% during the 1st quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after buying an additional 41,538 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock worth $3,860,000 after buying an additional 383 shares in the last quarter. Finally, Employees Retirement System of Texas increased its stake in shares of Wayfair by 28.5% in the fourth quarter. Employees Retirement System of Texas now owns 35,270 shares of the company's stock worth $1,563,000 after buying an additional 7,813 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.