Waystar (NASDAQ:WAY) Shares Gap Down After Insider Selling

Waystar Holding Corp. (NASDAQ:WAY) gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $40.30, but opened at $38.74. Waystar shares last traded at $39.39, with a volume of 152,668 shares trading hands.

Specifically, CTO Christopher L. Schremser sold 8,623 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $40.17, for a total value of $346,385.91. Following the transaction, the chief technology officer now owns 438,044 shares in the company, valued at approximately $17,596,227.48. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

WAY has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Truist Financial set a $50.00 target price on shares of Waystar and gave the company a “buy” rating in a research report on Wednesday, May 7th. Canaccord Genuity Group dropped their target price on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays dropped their target price on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.50.

Waystar Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The company’s fifty day simple moving average is $37.52 and its two-hundred day simple moving average is $36.72. The stock has a market cap of $6.83 billion and a price-to-earnings ratio of 438.89.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Institutional Trading of Waystar

Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Waystar in the fourth quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Waystar in the fourth quarter valued at about $48,000. Gen Wealth Partners Inc purchased a new stake in shares of Waystar in the fourth quarter valued at about $92,000. Amalgamated Bank raised its holdings in shares of Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after purchasing an additional 1,241 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Waystar in the first quarter valued at about $109,000.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.