Jon Blotner Sells 4,521 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 4,521 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.88, for a total transaction of $211,944.48. Following the transaction, the insider now directly owns 63,568 shares in the company, valued at approximately $2,980,067.84. The trade was a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, January 3rd, Jon Blotner sold 4,966 shares of Wayfair stock. The stock was sold at an average price of $44.93, for a total transaction of $223,122.38.
• On Monday, October 14th, Jon Blotner sold 4,600 shares of Wayfair stock. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00.

Wayfair Stock Performance

Shares of W traded down $2.32 during midday trading on Tuesday, hitting $46.17. The company had a trading volume of 2,854,610 shares, compared to its average volume of 3,330,002. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The firm has a market capitalization of $5.79 billion, a P/E ratio of -10.28 and a beta of 3.43. The company’s 50-day simple moving average is $45.18 and its 200-day simple moving average is $47.74.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm earned ($1.38) EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

W has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Loop Capital upped their price target on Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets lowered their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Piper Sandler reduced their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Citigroup lowered their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.24.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Wayfair in the third quarter valued at $29,000. GAMMA Investing LLC increased its holdings in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Wayfair in the 3rd quarter valued at about $44,000. Brooklyn Investment Group acquired a new stake in shares of Wayfair during the 3rd quarter worth about $50,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in Wayfair during the third quarter worth approximately $67,000. Institutional investors and hedge funds 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.