Wayfair (NYSE:W) Shares Gap Down to $58.77

Wayfair Inc. (NYSE:WGet Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $58.77, but opened at $57.23. Wayfair shares last traded at $58.53, with a volume of 150,092 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on W shares. Citigroup lifted their price target on Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Wayfair in a research note on Thursday, May 16th. Loop Capital boosted their target price on Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada boosted their price target on Wayfair from $61.00 to $65.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. Ten analysts have rated the stock with a hold rating, eighteen have assigned 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 an average price target of $77.83.

Check Out Our Latest Research Report on Wayfair

Wayfair Stock Performance

The firm has a market capitalization of $6.79 billion, a P/E ratio of -10.53 and a beta of 3.39. The firm has a 50-day moving average of $61.08 and a 200-day moving average of $58.55.

Wayfair (NYSE:WGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. On average, research analysts forecast that Wayfair Inc. will post -3.03 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the sale, the insider now directly owns 229,073 shares in the company, valued at approximately $15,636,522.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Wayfair news, COO Thomas Netzer sold 984 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the sale, the chief operating officer now directly owns 117,841 shares of the company’s stock, valued at $7,138,807.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the sale, the insider now directly owns 229,073 shares in the company, valued at $15,636,522.98. The disclosure for this sale can be found here. Insiders have sold 56,664 shares of company stock valued at $3,656,493 in the last ninety days. 26.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

Several large investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new position in Wayfair in the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Wayfair in the fourth quarter worth approximately $29,000. GAMMA Investing LLC bought a new position in Wayfair in the fourth quarter worth approximately $31,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Wayfair during the third quarter worth $34,000. Finally, ORG Partners LLC acquired a new position in shares of Wayfair during the first quarter worth $37,000. 89.67% of the stock is owned by institutional investors.

Wayfair Company Profile

(Get Free Report)

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.

Further Reading

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