Wayfair (NYSE:W) Trading Down 4.4% – Here’s What Happened

Shares of Wayfair Inc. (NYSE:W) fell 4.4% during mid-day trading on Friday . The stock traded as low as $44.84 and last traded at $45.31. 568,804 shares were traded during trading, a decline of 82% from the average session volume of 3,157,635 shares. The stock had previously closed at $47.37.

Analyst Upgrades and Downgrades

W has been the topic of several research analyst reports. Truist Financial reduced their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. UBS Group lowered their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Piper Sandler cut their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, Wedbush lowered shares of Wayfair from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $44.00 in a research note on Monday, January 6th. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.24.

Wayfair Trading Down 8.5 %

The stock has a market cap of $5.43 billion, a price-to-earnings ratio of -9.64 and a beta of 3.43. The firm has a fifty day simple moving average of $47.37 and a 200 day simple moving average of $46.84.

Insider Activity

In other news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now directly owns 171,790 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,228 shares of company stock worth $7,709,418. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently modified their holdings of the stock. J.Safra Asset Management Corp increased its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Creative Planning increased its stake in shares of Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after buying an additional 272 shares during the period. GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares during the period. Jones Financial Companies Lllp boosted its position in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Wayfair during the third quarter worth approximately $29,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.