Insider Selling: Wayfair (NYSE:W) Insider Sells $630,611.28 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,056 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $104.13, for a total value of $630,611.28. Following the transaction, the insider owned 116,431 shares in the company, valued at approximately $12,123,960.03. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 value of $698,332.96.

Wayfair Trading Up 4.9%

NYSE W traded up $4.94 on Monday, hitting $106.19. The company’s stock had a trading volume of 2,368,626 shares, compared to its average volume of 3,521,193. The firm has a market cap of $14.02 billion, a P/E ratio of -43.17, a PEG ratio of 3.64 and a beta of 3.02. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98. The company’s 50-day simple moving average is $100.78 and its 200 day simple moving average is $85.49.

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

Wall Street Analyst Weigh In

W has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Zacks Research cut shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Wells Fargo & Company lifted their target price on shares of Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research report on Monday, September 14th. Finally, Needham & Company LLC increased their price target on shares of Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $120.89.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. Versant Capital Management Inc raised its holdings in Wayfair by 4.1% in the third quarter. Versant Capital Management Inc now owns 3,551 shares of the company’s stock worth $364,000 after purchasing an additional 140 shares in the last quarter. Flynn Zito Capital Management LLC lifted its position in Wayfair by 6.4% during the first quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company’s stock valued at $209,000 after buying an additional 168 shares during the period. Arizona State Retirement System boosted its holdings in shares of Wayfair by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 28,514 shares of the company’s stock valued at $2,635,000 after buying an additional 201 shares in the last quarter. Triumph Capital Management boosted its holdings in shares of Wayfair by 6.3% during the 2nd quarter. Triumph Capital Management now owns 3,498 shares of the company’s stock valued at $323,000 after buying an additional 207 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Wayfair by 18.6% in the 1st quarter. Parallel Advisors LLC now owns 1,661 shares of the company’s stock worth $125,000 after buying an additional 261 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.