Wayfair (NYSE:W) Trading Down 8% – Should You Sell?

Wayfair Inc. (NYSE:W)’s share price dropped 8% during mid-day trading on Tuesday . The stock traded as low as $26.05 and last traded at $25.23. Approximately 2,344,275 shares changed hands 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 Upgrades and Downgrades

Several research firms have recently commented on W. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Wayfair in a research note on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their target price on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Wedbush reaffirmed a “neutral” rating and set a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Finally, Loop Capital lowered their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, February 21st. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.16.

Wayfair Trading Down 11.6 %

The company has a market cap of $3.33 billion, a price-to-earnings ratio of -6.52 and a beta of 3.72. The company has a fifty day moving average price of $36.89 and a two-hundred day moving average price of $43.64.

Wayfair (NYSE:W) last released 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 firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. Sell-side 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 business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 589,073 shares of the company’s stock, valued at $28,540,586.85. The trade was a 4.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction on Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. The trade was a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,532 shares of company stock worth $5,090,232 over the last three months. 23.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Wayfair during the 4th quarter worth approximately $6,799,000. Wellington Management Group LLP grew its position in shares of Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after buying an additional 201,157 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Wayfair by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock worth $1,982,000 after buying an additional 2,250 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Wayfair in the fourth quarter valued at approximately $229,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.