Wayfair (W) Shares Gap Down Following Insider Selling

Shares of Wayfair Inc (NYSE:W) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $83.54, but opened at $81.02. Wayfair shares last traded at $78.45, with a volume of 2693881 shares.

Specifically, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $65.76, for a total transaction of $39,456.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Champlin Mulliken sold 700 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $80.86, for a total value of $56,602.00. Following the transaction, the insider now owns 55,126 shares of the company’s stock, valued at $4,457,488.36. The disclosure for this sale can be found here. Insiders have sold 58,571 shares of company stock worth $4,229,190 over the last three months. Insiders own 56.93% of the company’s stock.

W has been the subject of a number of analyst reports. Oppenheimer restated a “buy” rating and set a $88.00 price objective on shares of Wayfair in a research report on Wednesday, September 13th. Piper Jaffray Companies restated a “buy” rating and set a $89.00 price objective on shares of Wayfair in a research report on Friday, September 8th. Canaccord Genuity restated a “buy” rating and set a $90.00 price objective on shares of Wayfair in a research report on Thursday, November 2nd. Cowen reiterated a “buy” rating and issued a $72.00 target price (down from $82.00) on shares of Wayfair in a report on Wednesday, November 1st. Finally, MKM Partners began coverage on Wayfair in a report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $76.90.

The company has a market capitalization of $6,940.00, a price-to-earnings ratio of -31.85 and a beta of 0.96. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.03. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. The company’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.54) earnings per share. research analysts predict that Wayfair Inc will post -2.64 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its holdings in shares of Wayfair by 96.2% during the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after acquiring an additional 667 shares in the last quarter. Delta Asset Management LLC TN increased its holdings in shares of Wayfair by 375.0% during the third quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock valued at $128,000 after acquiring an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Wayfair by 1,512.5% during the third quarter. Advisors Asset Management Inc. now owns 2,322 shares of the company’s stock valued at $157,000 after acquiring an additional 2,178 shares in the last quarter. Mohican Financial Management LLC purchased a new position in shares of Wayfair during the third quarter valued at approximately $194,000. Finally, Stifel Financial Corp purchased a new position in shares of Wayfair during the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 66.73% of the company’s stock.

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Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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