The equity research analysts at Wells Fargo & Company lowered their price objective for Wayfair (NYSE: W) from $35.00 to $30.00 in a research note published on Thursday. The investment firm has assigned the company’s stock the “underweight” classification. According to the price objective established by Wells Fargo & Company, the stock has the potential to experience a drop in price 16.41% lower than its current price.
Various other scientific organizations have recently presented their viewpoints on W. The Royal Bank of Canada rated the stock as “sector perform” in a research report that was released on Monday, November 7th, and they decreased their target price for Wayfair from $62.00 to $35.00. In addition, the report mentioned that the stock price target set by the bank was $62.00. When Wolfe Research initially began covering Wayfair’s shares, it was on the 15th of December, which was a Thursday. The organization assigned the business the rating of “peer performing,” and the organization also assigned this rating to the business. Wayfair received an “overweight” rating from Goldman Sachs Group in a research report released on November 4th. Previously, Wayfair had received a “neutral” rating from the investment firm. In addition, the price target they set for the stock has risen from $36.00 to $40.00. Truist Financial stated its decision to reduce its price target for Wayfair stock from $60.00 to $50.00 in a research note published on November 7th. UBS Group downgraded Wayfair from a “neutral” rating to a “sell” rating and decreased their price target on the stock from $65.00 to $45.00 in a research report published on Friday, September 23rd. In addition, the price target was decreased from $45.00 to $45.00. The last and most significant modification was made here. There have been nine analyst recommendations to sell the stock, eleven to hold onto the stock, and seven to buy the stock. The information was obtained from Bloomberg.com. It has been determined that the stock is currently given the recommendation of “Hold” and that analysts have set an average price objective of $64.56.
On Thursday, the W stock was introduced to the market for $35.89 per share. Over the past year, Wayfair’s prices have ranged from $28.11 to $183.64, with $28.11 being the store’s all-time low. The price-to-earnings ratio and the beta for this company come in at 2.85, and the ratio is 3.20. It is currently valued at $3.84 billion at this time. The moving average for the company over the past 50 days is $35.55, and the moving average over the past 200 days is $44.01.
On January 4, Wayfair insider Steve Oblak sold 3,402 shares of the company’s stock. This is just one of the latest developments about this subject. It was determined that the shares were sold at a price that was an average of $33.36 per share, which resulted in a total sale volume of 113,490.72 dollars. Following the completion of the transaction, the company insider now owns 181,795 shares, which have a combined value of $6,064,681.20. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately.
Additionally, on January 4, Wayfair’s Chief Financial Officer Kate Gulliver made a transaction in which she sold 3,175 shares of the company’s stock. Other recent developments concern Wayfair. The sale of the shares brought in a total of $105,568.75 in revenue, with the average price paid for each share coming in at $33.25. The chief financial officer currently holds 21,107 shares of the company, which have a combined value of $701,807.75 and are held in their investment portfolio. Again, you will be taken to a filing with the Securities and Exchange Commission if you click on the link provided, where you can obtain additional information regarding the sale.
Additionally, Wayfair insider Steve Oblak sold 3,402 shares of the company’s stock on January 4. It was determined that the shares were sold at a price that was an average of $33.36 per share, which resulted in a total sale volume of 113,490.72 dollars. Following the completion of the transaction, the corporate insider is now the owner of 181,795 shares, which have a total value of approximately $6,064,681.20. The disclosure about the purchase can be found in this particular location. Business insiders sold 48,366 shares of company stock during the most recent fiscal period, resulting in a total transaction value of $1,742,346. The management and employees of the company collectively own 81% of the company’s total stock.
In recent months, several hedge funds and institutional investors have modified the strategies that they previously utilized to keep their positions. W. In the first three months of 2018, HighTower Advisors LLC made a 16.9% purchase of additional Wayfair stock, bringing the total amount of the company’s ownership to 100%. HighTower Advisors LLC now holds a total of 2,360 shares of the company’s stock, which are currently valued at $259,000 following the acquisition of an additional 342 shares during the preceding quarter. In addition, during the first three months of 2018, MetLife Investment Management LLC made a new investment in Wayfair that cost the company approximately 378 thousand dollars. Panagora Asset Management Inc. increased the amount of Wayfair stock owned by 42.7% during the first three months of 2018. As a result of the purchase of 659 additional shares during the period, Panagora Asset Management Inc. is now the owner of 2,204 shares in the company. These shares have a combined value of $244,000, which was made possible by acquiring additional shares. Vontobel Holding Ltd. increased its Wayfair stock by 51.6% during the first three months of 2018. After making an additional purchase of 4,338 shares during the most recent fiscal quarter, Vontobel Holding Ltd. now possesses 12,740 shares at a value of $1,548,000. This brings the total number of shares the company owns to 12,740. Not to mention, during the first quarter of this year, Aviva PLC increased the amount of Wayfair stock that is owned by 1.5 percent. During the quarter, Aviva PLC increased its stake in the company by 346, bringing its total number of shares to 23,470, with a market value of $2,600,000. Institutional investors and hedge funds currently own 90.61 percent of the company’s stock between them.
Wayfair Inc. is in charge of running an online store, which can be accessed by customers not only in the United States but also in other countries. Consumers in the domestic market can choose from approximately 33 million different products the company offers under various brand names. It does business under various names, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold, all of which are associated with the sale of home goods. These items consist of furnishings, accessories, and wares for the home and upgrades.