Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Wayfair Inc shares valued at $682,588 were sold by Conine Steven on May 07 ’24. At $68.26 per share, Conine Steven sold 10,000 shares. The insider’s holdings dropped to 229,073 shares worth approximately $16.71 million following the completion of this transaction.
Also, Shah Niraj sold 10,000 shares, netting a total of over 680,330 in proceeds. Following the sale of shares at $68.03 each, the insider now holds 229,137 shares.
Before that, Schaferkordt Anke had sold 348 shares from its account. In a trade valued at $20,465, the Director traded Wayfair Inc shares for $58.81 each. Upon closing the transaction, the insider’s holdings decreased to 348 shares, worth approximately $0.97 million.
As published in a research note from RBC Capital Mkts on April 24, 2024, Wayfair Inc [W] has been retained to a Sector perform and the price target has been revised to $61. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in early April. As of March 19, 2024, Mizuho has initiated its “Buy” rating for W. Earlier on February 16, 2024, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for W stock which previously was a “a Mkt perform”.
Analyzing W Stock Performance
During the last five days, there has been a surge of approximately 24.39%. Over the course of the year, Wayfair Inc shares have jumped approximately 18.22%. Shares of the company reached a 52-week high of $73.47 on 05/09/24 and a 52-week low of $47.32 on 02/21/24. A 50-day SMA is recorded $60.79, while a 200-day SMA reached $58.82. Nevertheless, trading volume fell to 5.33 million shares from 5.8 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 69.44, which, if violated, would cause prices to drop to 65.95. In the upper region, resistance lies at 74.95. The next price resistance is at 76.97. RSI (Relative Strength Index) is 69.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 11.55, which suggests the price will increase in the coming days. Percent R is at 2.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
