Wayfair Inc (NYSE:W) CFO Sells $661,435.74 in Stock

Wayfair Inc (NYSE:W) CFO Michael D. Fleisher sold 6,291 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $105.14, for a total transaction of $661,435.74. Following the sale, the chief financial officer now owns 148,473 shares in the company, valued at $15,610,451.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

W traded up $6.64 on Thursday, reaching $114.54. The company’s stock had a trading volume of 1,318,518 shares, compared to its average volume of 1,869,150. The stock has a 50 day moving average of $115.66 and a two-hundred day moving average of $136.06. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of -20.42 and a beta of 1.92. Wayfair Inc has a fifty-two week low of $76.60 and a fifty-two week high of $173.72.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($1.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.62. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.26 billion. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period last year, the company earned ($0.77) earnings per share. On average, research analysts forecast that Wayfair Inc will post -9.43 EPS for the current year.

A number of brokerages have issued reports on W. Piper Jaffray Companies set a $175.00 price target on shares of Wayfair and gave the stock a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research raised Wayfair from a “sell” rating to a “hold” rating and set a $138.00 price objective for the company in a research report on Saturday, September 14th. UBS Group initiated coverage on Wayfair in a research report on Wednesday, September 25th. They set a “neutral” rating and a $125.00 price objective for the company. Needham & Company LLC initiated coverage on Wayfair in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 price objective for the company. Finally, Stifel Nicolaus raised Wayfair from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $153.55.

A number of institutional investors and hedge funds have recently made changes to their positions in W. Baillie Gifford & Co. boosted its holdings in Wayfair by 14.2% in the second quarter. Baillie Gifford & Co. now owns 3,992,065 shares of the company’s stock valued at $582,841,000 after purchasing an additional 497,644 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Wayfair in the second quarter valued at approximately $59,990,000. Whale Rock Capital Management LLC boosted its holdings in Wayfair by 8.8% in the second quarter. Whale Rock Capital Management LLC now owns 1,404,590 shares of the company’s stock valued at $205,070,000 after purchasing an additional 113,946 shares in the last quarter. Telemark Asset Management LLC boosted its holdings in Wayfair by 33.3% in the second quarter. Telemark Asset Management LLC now owns 400,000 shares of the company’s stock valued at $58,400,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its holdings in Wayfair by 4.4% in the second quarter. Bares Capital Management Inc. now owns 1,663,326 shares of the company’s stock valued at $242,846,000 after purchasing an additional 70,137 shares in the last quarter. 75.97% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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