Wayfair (NYSE:W) Stock Rating Lowered by StockNews.com

Wayfair (NYSE:W) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

W has been the topic of several other reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price target on shares of Wayfair in a research report on Friday, February 23rd. Stifel Nicolaus increased their price target on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Truist Financial increased their price target on shares of Wayfair from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein upped their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.45.

Wayfair Trading Up 8.4 %

Shares of W opened at $63.59 on Friday. The firm’s 50-day moving average is $59.92 and its two-hundred day moving average is $55.21. Wayfair has a twelve month low of $33.85 and a twelve month high of $90.71. The firm has a market capitalization of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Analysts predict that Wayfair will post -3.37 EPS for the current year.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the completion of the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wayfair news, insider Jon Blotner sold 3,492 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the transaction, the insider now directly owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the transaction, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The disclosure for this sale can be found here. In the last three months, insiders sold 90,156 shares of company stock valued at $5,465,688. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in Wayfair by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock worth $24,606,000 after acquiring an additional 94,540 shares in the last quarter. Federated Hermes Inc. acquired a new position in Wayfair during the 3rd quarter worth $1,147,000. Vanguard Group Inc. grew its holdings in Wayfair by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Wayfair by 3,978.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company’s stock worth $22,235,000 after acquiring an additional 358,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Wayfair by 88.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock valued at $38,438,000 after buying an additional 297,235 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

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.