Jon Blotner Sells 4,600 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, October 2nd, Jon Blotner sold 6,055 shares of Wayfair stock. The shares were sold at an average price of $53.07, for a total transaction of $321,338.85.

Wayfair Stock Down 3.2 %

Shares of Wayfair stock opened at $52.57 on Friday. Wayfair Inc. has a 52 week low of $38.02 and a 52 week high of $76.18. The company has a market capitalization of $6.33 billion, a PE ratio of -9.81 and a beta of 3.42. The stock’s fifty day moving average is $48.07 and its two-hundred day moving average is $53.74.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.27) earnings per share. As a group, research analysts anticipate that Wayfair Inc. will post -2.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on W shares. JPMorgan Chase & Co. decreased their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays decreased their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Wedbush dropped their price target on Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial reduced their price objective on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.83.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors raised its holdings in shares of Wayfair by 0.9% in the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after acquiring an additional 103,369 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after purchasing an additional 675,271 shares during the period. Wolf Hill Capital Management LP boosted its stake in shares of Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Wayfair by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after buying an additional 119,873 shares during the period. Institutional investors own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.