Wayfair Inc. (NYSE:W) was down 8.9% on Friday following insider selling activity. The stock traded as low as $56.54 and last traded at $67.78. Approximately 3,724,929 shares were traded during trading, an increase of 41% from the average daily volume of 2,634,480 shares. The stock had previously closed at $74.41.

Specifically, CEO Niraj Shah sold 55,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $76.65, for a total transaction of $4,215,750.00. Following the transaction, the chief executive officer now directly owns 72,630 shares of the company’s stock, valued at approximately $5,567,089.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Champlin Mulliken sold 941 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.37, for a total transaction of $58,690.17. Following the transaction, the insider now directly owns 1,000 shares in the company, valued at $62,370. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,752 shares of company stock worth $29,788,852. Insiders own 56.93% of the company’s stock.

A number of analysts have recently commented on W shares. Piper Jaffray Companies restated a “buy” rating and set a $89.00 target price on shares of Wayfair in a report on Friday, September 8th. Gordon Haskett upgraded shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Tuesday, September 5th. Wedbush reiterated an “outperform” rating and issued a $82.00 price target on shares of Wayfair in a research note on Wednesday, October 4th. Oppenheimer Holdings, Inc. set a $88.00 price target on shares of Wayfair and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Buckingham Research reiterated a “buy” rating and issued a $95.00 price target (up previously from $72.00) on shares of Wayfair in a research note on Thursday, July 13th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $76.01.

The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.93.

Wayfair (NYSE:W) last posted its earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.03. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Wayfair had a negative net margin of 5.06% and a negative return on equity of 505.51%. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.54) EPS. sell-side analysts expect that Wayfair Inc. will post -2.27 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Wayfair by 2.7% during the 2nd quarter. FMR LLC now owns 7,757,688 shares of the company’s stock valued at $596,411,000 after purchasing an additional 207,443 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Wayfair by 16.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock valued at $232,857,000 after purchasing an additional 423,631 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Wayfair by 1.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,938,701 shares of the company’s stock valued at $130,669,000 after purchasing an additional 24,027 shares during the last quarter. Allen Investment Management LLC increased its position in shares of Wayfair by 25.7% during the 2nd quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock valued at $67,654,000 after purchasing an additional 180,000 shares during the last quarter. Finally, State Street Corp increased its position in shares of Wayfair by 1.8% during the 1st quarter. State Street Corp now owns 695,502 shares of the company’s stock valued at $28,158,000 after purchasing an additional 12,398 shares during the last quarter. 66.24% of the stock is owned by hedge funds and other institutional investors.

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Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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