Wayfair (NYSE:W) Stock: Insider Fiona Tan Sells 7,000 Shares

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 7,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $102.18, for a total transaction of $715,260.00. Following the sale, the chief technology officer directly owned 204,698 shares of the company’s stock, valued at approximately $20,916,041.64. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

Wayfair Stock Performance

Shares of Wayfair stock traded up $4.94 on Monday, hitting $106.19. 2,368,626 shares of the company traded hands, compared to its average volume of 3,521,193. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The business has a 50-day simple moving average of $100.78 and a 200 day simple moving average of $85.49. The stock has a market capitalization of $14.02 billion, a P/E ratio of -43.17, a price-to-earnings-growth ratio of 3.64 and a beta of 3.02.

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

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the business. Havemeyer Place LP bought a new stake in shares of Wayfair during the 4th quarter worth approximately $39,000. IFP Advisors Inc lifted its position in shares of Wayfair by 79.2% during the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after purchasing an additional 358 shares during the last quarter. ABS Direct Equity Fund LLC purchased a new stake in shares of Wayfair during the first quarter valued at $83,000. Polaris Financial Partners bought a new position in shares of Wayfair in the third quarter worth about $113,000. Finally, Parallel Advisors LLC grew its holdings in shares of Wayfair by 18.6% in the first quarter. Parallel Advisors LLC now owns 1,661 shares of the company’s stock worth $125,000 after purchasing an additional 261 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on W shares. Needham & Company LLC boosted their target price on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped their price objective on Wayfair from $75.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. UBS Group increased their target price on Wayfair from $118.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein restated an “outperform” rating on shares of Wayfair in a research report on Tuesday, September 1st. Finally, Benchmark initiated coverage on shares of Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.89.

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.