Wayfair (NYSE:W) Insider Jon Blotner Sells 546 Shares of Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 546 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $110.00, for a total transaction of $60,060.00. Following the completion of the transaction, the insider directly owned 115,885 shares in the company, valued at $12,747,350. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Friday, October 2nd, Jon Blotner sold 6,056 shares of Wayfair stock. The shares were 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 stock was sold at an average price of $100.22, for a total transaction of $698,332.96.

Wayfair Stock Performance

Shares of W traded up $4.53 during midday trading on Monday, hitting $111.81. 2,162,916 shares of the company traded hands, compared to its average volume of 3,448,153. The firm has a 50 day moving average of $102.50 and a 200-day moving average of $87.71. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The stock has a market cap of $14.76 billion, a price-to-earnings ratio of -45.45, a PEG ratio of 3.86 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 (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on W. Benchmark started coverage on Wayfair in a research note on Tuesday, July 7th. They issued a “hold” rating on the stock. Zacks Research downgraded Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Jefferies Financial Group reiterated a “hold” rating and set a $108.00 target price on shares of Wayfair in a research report on Tuesday, August 4th. Wedbush raised their target price on shares of Wayfair from $85.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets boosted their price target on shares of Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $120.93.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently modified their holdings of W. Assenagon Asset Management S.A. boosted its holdings in shares of Wayfair by 23,901.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 575,800 shares of the company’s stock worth $43,306,000 after purchasing an additional 573,401 shares during the period. Atreides Management LP raised its holdings in Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after buying an additional 560,133 shares during the period. Dimensional Fund Advisors LP raised its holdings in Wayfair by 46.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after buying an additional 328,358 shares during the period. Janus Henderson Group PLC lifted its position in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after buying an additional 296,233 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in Wayfair in the second quarter worth $16,362,000. 89.67% of the stock is owned by institutional investors.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair plans to open a physical furniture store in Denver next month. The location could expand brand visibility, provide customers with an in-person shopping option and support an omnichannel strategy, although the store may also add operating costs before contributing materially to revenue. Furniture retailer Wayfair to open brick-and-mortar store in Denver next month
• Neutral Sentiment: Recent coverage highlights Wayfair’s home-furnishings assortment, seasonal promotions and discounted products. These articles may support customer engagement and sales activity, but the emphasis on discounts could pressure gross margins and does not provide evidence of a material change in financial forecasts. Wayfair comforter promotion
• Neutral Sentiment: A head-to-head survey comparing Brilliant Earth Group and Wayfair offers limited direct insight into Wayfair’s earnings outlook or near-term valuation. Brilliant Earth Group and Wayfair head-to-head survey
• Negative Sentiment: Director Steven Conine and CEO Niraj Shah each sold 117,000 shares at an average price of $111.25, reducing their direct holdings by roughly 53% and generating approximately $13.0 million apiece. The transactions may weigh on sentiment because of their size, though both were scheduled under Rule 10b5-1 plans. Wayfair insider sale filing
• Negative Sentiment: Insider Jon Blotner sold 546 shares for about $60,060. The transaction was small relative to his remaining ownership and was also made under a pre-arranged trading plan, limiting its significance. Wayfair insider transaction filing

Wayfair Company Profile

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.