Wayfair (NYSE:W) Downgraded to “Market Perform” at Cowen

Cowen lowered shares of Wayfair (NYSE:WGet Rating) from an outperform rating to a market perform rating in a report released on Monday, The Fly reports.

W has been the topic of several other research reports. Wedbush boosted their price target on shares of Wayfair from $50.00 to $60.00 and gave the company a neutral rating in a report on Friday, August 5th. Cowen lowered their price target on shares of Wayfair from $84.00 to $80.00 in a report on Thursday, October 27th. StockNews.com raised shares of Wayfair to a sell rating in a report on Wednesday, November 16th. Morgan Stanley lowered their price target on shares of Wayfair from $65.00 to $30.00 and set an underweight rating on the stock in a report on Friday, November 4th. Finally, MKM Partners lowered their price target on shares of Wayfair from $60.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, October 19th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $77.48.

Wayfair Trading Down 0.7 %

Shares of W stock opened at $33.00 on Monday. Wayfair has a 1 year low of $28.11 and a 1 year high of $298.00. The firm’s fifty day simple moving average is $36.25 and its 200 day simple moving average is $48.14. The firm has a market capitalization of $3.54 billion, a P/E ratio of -2.94 and a beta of 2.92.

Insider Buying and Selling

In related news, insider Steve Oblak sold 2,923 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $37.33, for a total transaction of $109,115.59. Following the completion of the sale, the insider now directly owns 168,715 shares of the company’s stock, valued at approximately $6,298,130.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Steve Oblak sold 2,923 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $37.33, for a total transaction of $109,115.59. Following the completion of the transaction, the insider now directly owns 168,715 shares of the company’s stock, valued at approximately $6,298,130.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kate Gulliver sold 1,316 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $37.31, for a total transaction of $49,099.96. Following the transaction, the chief financial officer now directly owns 16,024 shares of the company’s stock, valued at $597,855.44. The disclosure for this sale can be found here. In the last three months, insiders sold 28,309 shares of company stock valued at $1,054,126. 26.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of Wayfair by 3.7% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 44,670 shares of the company’s stock valued at $4,949,000 after buying an additional 1,591 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Wayfair by 3.1% in the 1st quarter. Arizona State Retirement System now owns 20,621 shares of the company’s stock valued at $2,284,000 after buying an additional 617 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Wayfair by 2.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,324 shares of the company’s stock valued at $1,033,000 after buying an additional 209 shares during the last quarter. Titleist Asset Management LTD. boosted its holdings in shares of Wayfair by 2.6% in the 1st quarter. Titleist Asset Management LTD. now owns 43,185 shares of the company’s stock valued at $4,784,000 after buying an additional 1,105 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in shares of Wayfair in the 1st quarter valued at approximately $139,000. 91.05% of the stock is owned by institutional investors.

About Wayfair

(Get Rating)

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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