Wayfair (NYSE:W) Insider Sells $60,000.00 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 500 shares of the firm’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the insider owned 115,385 shares in the company, valued at approximately $13,846,200. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 15th, Jon Blotner sold 546 shares of Wayfair stock. The shares were sold at an average price of $110.00, for a total value of $60,060.00.
• On Friday, October 2nd, Jon Blotner sold 6,056 shares of Wayfair stock. The stock was sold at an average price of $104.13, for a total transaction of $630,611.28.
• On Tuesday, September 8th, Jon Blotner sold 6,968 shares of Wayfair stock. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96.

Wayfair Stock Performance

Shares of W stock traded down $2.91 on Monday, hitting $113.00. 3,010,722 shares of the company’s stock traded hands, compared to its average volume of 3,377,351. Wayfair Inc. has a one year low of $55.60 and a one year high of $122.13. The company’s fifty day simple moving average is $104.78 and its 200 day simple moving average is $89.19. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of -45.93, a P/E/G ratio of 4.17 and a beta of 3.02.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. As a group, sell-side analysts anticipate that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares during the period. Atreides Management LP grew its stake in shares of Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after purchasing an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Wayfair by 46.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after purchasing an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Wayfair by 42.2% in the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after purchasing an additional 242,791 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Wayfair by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after purchasing an additional 5,586 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on W shares. Mizuho set a $132.00 price objective on Wayfair in a report on Thursday. Wells Fargo & Company increased their target price on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a research report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and set a $108.00 price target on shares of Wayfair in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Wayfair in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.21.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.