Wayfair (NYSE:W) Trading Down 5.5% – Should You Sell?

Wayfair Inc. (NYSE:W) shares were down 5.5% during trading on Tuesday . The company traded as low as $33.60 and last traded at $34.59. Approximately 4,644,221 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 3,770,709 shares. The stock had previously closed at $36.62.

Analysts Set New Price Targets

Several research analysts recently weighed in on W shares. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Wayfair in a research report on Friday, February 21st. Wedbush reaffirmed a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Truist Financial decreased their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Mizuho lowered their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average price target of $58.12.

Wayfair Price Performance

The stock has a 50 day simple moving average of $45.44 and a two-hundred day simple moving average of $46.53. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -8.34 and a beta of 3.43.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. As a group, research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the transaction, the insider now owns 632,573 shares in the company, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,228 shares of company stock valued at $7,830,018. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Southpoint Capital Advisors LP acquired a new position in shares of Wayfair in the third quarter worth $78,652,000. Holocene Advisors LP increased its holdings in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the period. Capital World Investors raised its position in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after purchasing an additional 782,757 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after buying an additional 740,641 shares during the period. Finally, Norges Bank acquired a new position in shares of Wayfair during the fourth quarter worth about $31,472,000. Institutional investors and hedge funds 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.