Wayfair (NYSE:W) Insider Jon Blotner Sells 6,968 Shares

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,968 shares of Wayfair stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the completion of the sale, the insider directly owned 110,376 shares of the company’s stock, valued at approximately $11,061,882.72. The trade was a 5.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jon Blotner also recently made the following trade(s):

• On Thursday, July 2nd, Jon Blotner sold 5,925 shares of Wayfair stock. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25.

Wayfair Trading Down 2.6%

Wayfair stock opened at $97.52 on Friday. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of -39.64, a price-to-earnings-growth ratio of 3.60 and a beta of 2.99. The firm’s fifty day moving average price is $96.58 and its two-hundred day moving average price is $82.58.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts forecast that Wayfair Inc. will post 0.93 EPS for the current year.

Analyst Upgrades and Downgrades

W has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Rosenblatt Securities began coverage on Wayfair in a research note on Thursday, August 20th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Finally, Robert W. Baird set a $116.00 target price on shares of Wayfair in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.89.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the business. Havemeyer Place LP purchased a new stake in shares of Wayfair during the 4th quarter valued at $39,000. Kestra Advisory Services LLC bought a new stake in shares of Wayfair during the 4th quarter worth $44,000. Larson Financial Group LLC boosted its holdings in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after buying an additional 120 shares during the last quarter. Comerica Bank boosted its holdings in shares of Wayfair by 56.5% in the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock worth $57,000 after buying an additional 229 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Wayfair during the fourth quarter valued at about $71,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.