Wayfair Inc. (NYSE:W – Get Free Report)’s share price fell 2.1% during trading on Wednesday after Truist Financial lowered their price target on the stock from $70.00 to $65.00. Truist Financial currently has a buy rating on the stock. Wayfair traded as low as $48.75 and last traded at $49.33. 637,652 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 4,402,462 shares. The stock had previously closed at $50.41.
W has been the topic of several other reports. Morgan Stanley raised Wayfair from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research report on Tuesday, January 16th. StockNews.com cut shares of Wayfair from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Stifel Nicolaus lifted their target price on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. Wedbush reduced their price objective on Wayfair from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Finally, Stephens lowered their price target on Wayfair from $105.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.21.
Insider Buying and Selling at Wayfair
In related news, COO Thomas Netzer sold 982 shares of Wayfair stock in a transaction on Monday, December 18th. The shares were sold at an average price of $62.87, for a total transaction of $61,738.34. Following the transaction, the chief operating officer now owns 118,715 shares in the company, valued at approximately $7,463,612.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Thomas Netzer sold 982 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $62.87, for a total value of $61,738.34. Following the transaction, the chief operating officer now owns 118,715 shares of the company’s stock, valued at $7,463,612.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $52.37, for a total transaction of $523,700.00. Following the transaction, the insider now directly owns 289,073 shares of the company’s stock, valued at $15,138,753.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,310 shares of company stock valued at $3,852,316. Company insiders own 26.81% of the company’s stock.
Hedge Funds Weigh In On Wayfair
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wayfair in the 4th quarter worth $29,000. Acadian Asset Management LLC purchased a new position in Wayfair in the second quarter worth about $31,000. GAMMA Investing LLC bought a new stake in Wayfair during the fourth quarter worth approximately $31,000. BluePath Capital Management LLC purchased a new stake in Wayfair during the third quarter valued at approximately $34,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Wayfair in the 3rd quarter valued at approximately $34,000. 89.67% of the stock is owned by institutional investors.
Wayfair Stock Performance
The stock has a fifty day moving average price of $56.56 and a 200 day moving average price of $58.34. The stock has a market cap of $5.94 billion, a PE ratio of -6.08 and a beta of 3.32.
Wayfair Company Profile
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty 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, Perigold, and Wayfair Professional.