Wayfair (NYSE:W) Shares Down 5.6% – Should You Sell?

Shares of Wayfair Inc. (NYSE:W) dropped 5.6% during trading on Tuesday . The stock traded as low as $103.50 and last traded at $103.9160. Approximately 830,826 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,687,832 shares. The stock had previously closed at $110.04.

Wall Street Analyst Weigh In

A number of research firms have recently commented on W. Citigroup raised their price objective on shares of Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wedbush reaffirmed a “neutral” rating on shares of Wayfair in a report on Tuesday, August 5th. Raymond James Financial lifted their price objective on Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 29th. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average target price of $105.57.

Wayfair Trading Down 7.2%

The business’s 50 day simple moving average is $94.16 and its two-hundred day simple moving average is $73.55. The firm has a market capitalization of $13.31 billion, a PE ratio of -39.83 and a beta of 3.25.

Wayfair (NYSE:W) last released its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Wayfair’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 9,612 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $102.20, for a total transaction of $982,346.40. Following the transaction, the chief financial officer directly owned 175,497 shares in the company, valued at $17,935,793.40. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00. Following the transaction, the chief executive officer directly owned 729,137 shares in the company, valued at $77,222,899.67. The trade was a 17.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 955,959 shares of company stock worth $88,260,274 over the last three months. Company insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. grew its position in Wayfair by 681.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Wayfair by 826.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after acquiring an additional 2,512,854 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Wayfair in the third quarter valued at approximately $108,125,000. Southpoint Capital Advisors LP boosted its position in Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Wayfair by 197.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after purchasing an additional 1,033,865 shares in the last quarter. Institutional investors and hedge funds 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.