Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 5,669 Shares of Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the transaction, the insider now directly owns 57,899 shares in the company, valued at $2,479,814.17. This represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, January 6th, Jon Blotner sold 4,521 shares of Wayfair stock. The stock was sold at an average price of $46.88, for a total transaction of $211,944.48.
• 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.

Wayfair Trading Down 2.1 %

Shares of Wayfair stock traded down $0.90 during trading hours on Tuesday, reaching $42.81. The stock had a trading volume of 3,284,440 shares, compared to its average volume of 3,259,277. The stock’s 50 day moving average is $45.46 and its 200 day moving average is $47.52. The firm has a market capitalization of $5.36 billion, a PE ratio of -9.53 and a beta of 3.43. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18.

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

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Southpoint Capital Advisors LP purchased a new stake in shares of Wayfair during the third quarter worth about $78,652,000. Holocene Advisors LP grew its stake in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after acquiring an additional 1,213,896 shares in the last quarter. Renaissance Technologies LLC grew its stake in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares in the last quarter. Groupama Asset Managment grew its stake in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Wolf Hill Capital Management LP grew its stake in Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on W shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Wayfair in a report on Friday, November 1st. Citigroup dropped their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Mizuho dropped their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.24.

Wayfair Company Profile

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.