Wayfair (NYSE:W) Hits New 12-Month Low on Insider Selling

Shares of Wayfair Inc. (NYSE:W) reached a new 52-week low on Friday after an insider sold shares in the company. The stock traded as low as $22.99 and last traded at $22.74, with a volume of 184060 shares traded. The stock had previously closed at $25.09.

Specifically, CTO Fiona Tan sold 23,835 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares of the company’s stock, valued at $3,547,205.76. This represents a 17.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Blotner sold 19,257 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total transaction of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares in the company, valued at $2,480,797.44. The trade was a 19.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related 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 value of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several brokerages have weighed in on W. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $47.00 in a report on Friday, March 7th. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Wayfair in a research note on Monday, March 10th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Canaccord Genuity Group lowered their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, BMO Capital Markets increased their target price on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, February 21st. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.84.

Wayfair Stock Up 3.4 %

The stock has a fifty 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 price-to-earnings ratio of -6.46 and a beta of 3.72.

Wayfair (NYSE:W) 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 company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. As a group, research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in W. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair in the 3rd quarter worth about $44,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Wayfair in the third quarter worth approximately $384,000. Quarry LP boosted its position in shares of Wayfair by 47.4% in the third quarter. Quarry LP now owns 3,755 shares of the company’s stock worth $211,000 after acquiring an additional 1,207 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Wayfair by 8.5% in the third quarter. Quantinno Capital Management LP now owns 25,992 shares of the company’s stock valued at $1,460,000 after purchasing an additional 2,047 shares during the period. Finally, Tabor Asset Management LP increased its position in Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after purchasing an additional 15,932 shares during the last quarter. Hedge funds and other institutional investors 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.