Wayfair (NYSE:W) Downgraded by StockNews.com

Wayfair (NYSE:W - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets upped their price target on Wayfair from $57.00 to $61.00 and gave the stock a "market perform" rating in a report on Friday. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Wayfair in a research note on Thursday. Mizuho initiated coverage on shares of Wayfair in a research note on Tuesday, March 19th. They issued a "buy" rating and a $72.00 price target for the company. Barclays dropped their price target on Wayfair from $85.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, January 4th. Finally, Sanford C. Bernstein raised their price objective on Wayfair from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Friday. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $76.45.

Wayfair Stock Up 8.5 %

Shares of W traded up $4.96 during midday trading on Friday, hitting $63.60. The company's stock had a trading volume of 8,823,444 shares, compared to its average volume of 4,496,439. Wayfair has a one year low of $33.85 and a one year high of $90.71. The company's fifty day simple moving average is $59.92 and its two-hundred day simple moving average is $55.16. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of -9.75 and a beta of 3.32.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating analysts' consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. On average, research analysts predict that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Thomas Netzer sold 20,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the transaction, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Thomas Netzer sold 20,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the sale, the chief executive officer now directly owns 267,437 shares of the company's stock, valued at approximately $13,912,072.74. The disclosure for this sale can be found here. Insiders sold 90,156 shares of company stock valued at $5,465,688 over the last 90 days. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in W. Capital World Investors grew its stake in shares of Wayfair by 8.7% in the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company's stock valued at $743,004,000 after purchasing an additional 962,307 shares during the period. Norges Bank acquired a new position in Wayfair during the fourth quarter worth $47,374,000. AQR Capital Management LLC lifted its holdings in shares of Wayfair by 422.6% during the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company's stock valued at $30,979,000 after acquiring an additional 413,592 shares during the period. Vanguard Group Inc. grew its holdings in shares of Wayfair by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company's stock worth $474,281,000 after purchasing an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new stake in shares of Wayfair during the fourth quarter worth approximately $23,552,000. Institutional investors and hedge funds own 89.67% of the company's stock.

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.

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