Wayfair (NYSE:W) Stock Price Down 6%

Shares of Wayfair Inc. (NYSE:WGet Rating) dropped 6% during trading on Monday . The company traded as low as $53.06 and last traded at $53.87. Approximately 67,316 shares changed hands during trading, a decline of 98% from the average daily volume of 2,865,861 shares. The stock had previously closed at $57.33.

W has been the subject of a number of research analyst reports. StockNews.com upgraded Wayfair to a “sell” rating in a report on Tuesday. Piper Sandler downgraded Wayfair from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $200.00 to $65.00 in a report on Thursday, May 5th. Cowen dropped their price objective on Wayfair from $275.00 to $220.00 in a report on Wednesday, May 4th. UBS Group dropped their price objective on Wayfair from $150.00 to $135.00 and set a “neutral” rating for the company in a report on Friday, February 25th. Finally, Royal Bank of Canada dropped their price objective on Wayfair from $158.00 to $137.00 and set a “sector perform” rating for the company in a report on Friday, February 25th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $149.78.

The firm’s 50-day moving average price is $98.65 and its 200 day moving average price is $157.89. The firm has a market cap of $5.81 billion, a P/E ratio of -12.07 and a beta of 2.89.

Wayfair (NYSE:WGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($1.96) EPS for the quarter, topping the consensus estimate of ($2.43) by $0.47. Wayfair had a negative net margin of 3.54% and a negative return on equity of 10.52%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post -10.67 earnings per share for the current year.

In other Wayfair news, insider Steve Oblak sold 1,050 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $115.80, for a total value of $121,590.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Thomas Netzer sold 288 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $115.77, for a total transaction of $33,341.76. The disclosure for this sale can be found here. Insiders have sold 11,599 shares of company stock worth $1,233,647 in the last ninety days. Corporate insiders own 27.04% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of W. Raymond James & Associates grew its position in Wayfair by 25.9% in the third quarter. Raymond James & Associates now owns 5,826 shares of the company’s stock worth $1,489,000 after buying an additional 1,198 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Wayfair by 13.7% during the 3rd quarter. CIBC Asset Management Inc now owns 4,220 shares of the company’s stock valued at $1,078,000 after buying an additional 509 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Wayfair by 30.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,214 shares of the company’s stock valued at $3,121,000 after buying an additional 2,853 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Wayfair by 26.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 7,570 shares of the company’s stock valued at $1,934,000 after buying an additional 1,605 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in shares of Wayfair by 6.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 13,874 shares of the company’s stock valued at $3,545,000 after buying an additional 822 shares during the period. Institutional investors and hedge funds own 85.89% of the company’s stock.

About Wayfair (NYSE:W)

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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