Wayfair (NYSE:W) Sees Unusually-High Trading Volume – Time to Buy?

Wayfair Inc. (NYSE:W) shares saw unusually-high trading volume on Friday . Approximately 3,083,396 shares changed hands during mid-day trading, a decline of 28% from the previous session’s volume of 4,272,212 shares.The stock last traded at $41.34 and had previously closed at $42.83.

Analyst Ratings Changes

W has been the topic of several analyst reports. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $58.00 in a research note on Thursday, August 1st. Barclays decreased their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Stifel Nicolaus decreased their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 2nd. UBS Group decreased their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Truist Financial decreased their price objective on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.21.

Wayfair Trading Down 6.3 %

The firm has a market cap of $4.96 billion, a PE ratio of -7.59 and a beta of 3.46. The company’s 50-day moving average is $48.69 and its 200 day moving average is $52.37.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business posted ($1.27) EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Wayfair Inc. will post -2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,471 shares of company stock worth $1,987,002 in the last quarter. 26.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Wayfair in the 3rd quarter worth $29,000. ORG Partners LLC acquired a new stake in Wayfair during the first quarter worth about $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the 2nd quarter valued at approximately $58,000. Comerica Bank lifted its position in shares of Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wayfair during the 2nd quarter worth approximately $109,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Company Profile

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.