Fiona Tan Sells 6,347 Shares of Wayfair (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 6,347 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the sale, the chief technology officer owned 198,860 shares in the company, valued at $19,993,384.40. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wayfair Price Performance

Shares of NYSE W traded up $8.48 during mid-day trading on Friday, hitting $107.18. The company had a trading volume of 6,818,848 shares, compared to its average volume of 4,811,868. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $108.72. The firm has a market cap of $13.90 billion, a P/E ratio of -41.87 and a beta of 3.03. The business’s 50-day simple moving average is $86.82 and its 200-day simple moving average is $64.22.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the company earned $0.22 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Wayfair

Several large investors have recently modified their holdings of W. AQR Capital Management LLC lifted its stake in Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after buying an additional 276,471 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Wayfair during the second quarter worth $1,512,000. Jacobs Levy Equity Management Inc. bought a new position in Wayfair during the first quarter worth $452,000. Signaturefd LLC grew its holdings in Wayfair by 10.1% in the second quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after purchasing an additional 34,507 shares during the period. Finally, Rhumbline Advisers increased its stake in Wayfair by 4.3% in the first quarter. Rhumbline Advisers now owns 91,272 shares of the company’s stock valued at $2,923,000 after purchasing an additional 3,725 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush reaffirmed a “neutral” rating on shares of Wayfair in a research report on Tuesday, August 5th. Citigroup raised their price objective on shares of Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Guggenheim lifted their target price on shares of Wayfair from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Stifel Nicolaus set a $100.00 price target on shares of Wayfair in a research note on Wednesday, October 29th. Finally, Zelman & Associates upped their price objective on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.96.

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.