Wayfair (NYSE:W) Hits New 12-Month Low – Time to Sell?

Wayfair Inc. (NYSE:W) hit a new 52-week low during trading on Tuesday . The stock traded as low as $37.58 and last traded at $38.79, with a volume of 683297 shares trading hands. The stock had previously closed at $37.77.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on W shares. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research note on Friday, November 1st. Raymond James decreased their price objective on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Price Performance

The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -8.57 and a beta of 3.46. The stock has a 50 day moving average price of $48.36 and a two-hundred day moving average price of $51.69.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.38) earnings per share. As a group, research analysts expect that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,868 shares of company stock valued at $2,003,248 over the last 90 days. 26.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently modified their holdings of the business. Bridgewater Associates LP acquired a new stake in shares of Wayfair in the 3rd quarter valued at approximately $7,203,000. Brooklyn Investment Group acquired a new stake in Wayfair in the third quarter valued at $50,000. Algert Global LLC boosted its position in shares of Wayfair by 83.1% during the 3rd quarter. Algert Global LLC now owns 36,130 shares of the company’s stock worth $2,030,000 after purchasing an additional 16,394 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Wayfair during the 3rd quarter worth $1,070,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Wayfair by 35.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after purchasing an additional 253,681 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

About Wayfair

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.