Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Wayfair Inc shares valued at $250,795 were sold by Blotner Jon on Apr 15 ’24. At $60.52 per share, Blotner Jon sold 4,144 shares. The insider’s holdings dropped to 37,957 shares worth approximately $2.08 million following the completion of this transaction.
Also, Conine Steven sold 10,000 shares, netting a total of over 646,182 in proceeds. Following the sale of shares at $64.62 each, the insider now holds 239,073 shares.
Before that, Shah Niraj had sold 10,000 shares from its account. In a trade valued at $645,790, the Chief Executive Officer traded Wayfair Inc shares for $64.58 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $13.09 million.
As published in a research note from Evercore ISI on April 04, 2024, Wayfair Inc [W] has been rated up from an In-line to an Outperform and the price target has been revised to $80 from $65. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 16, 2024, Raymond James has increased its “Mkt perform” rating to a “Strong buy” for W. Earlier on January 16, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for W stock which previously was a “an Equal-weight”.
Analyzing W Stock Performance
During the last five days, there has been a drop of approximately -12.76%. Over the course of the year, Wayfair Inc shares have dropped approximately -11.28%. Shares of the company reached a 52-week high of $71.31 on 03/28/24 and a 52-week low of $47.32 on 02/21/24. A 50-day SMA is recorded $59.05, while a 200-day SMA reached $59.54. Nevertheless, trading volume fell to 3.12 million shares from 6.99 million shares the previous day.
Support And Resistance Levels for Wayfair Inc (W)
According to the 24-hour chart, there is a support level at 53.84, which, if violated, would cause prices to drop to 52.95. In the upper region, resistance lies at 56.31. The next price resistance is at 57.89. RSI (Relative Strength Index) is 36.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.17, which suggests the price will decrease in the coming days. Percent R is at 88.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
