Wayfair (NYSE:W) Insider Jon Blotner Sells 5,925 Shares

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wayfair Stock Performance

Shares of Wayfair stock traded down $1.33 on Monday, hitting $93.17. The stock had a trading volume of 2,077,510 shares, compared to its average volume of 3,836,679. The stock has a 50 day moving average of $74.87 and a 200 day moving average of $84.33. The firm has a market capitalization of $12.30 billion, a P/E ratio of -39.82, a PEG ratio of 4.97 and a beta of 2.96. Wayfair Inc. has a twelve month low of $53.07 and a twelve month high of $119.98.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.Wayfair’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Equities analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the company. Webster Bank N. A. purchased a new stake in Wayfair during the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new position in shares of Wayfair during the 4th quarter valued at approximately $33,000. Piper Sandler & CO. bought a new stake in Wayfair during the 4th quarter worth approximately $34,000. Havemeyer Place LP purchased a new position in shares of Wayfair during the 4th quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC raised its stake in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on W shares. TD Cowen dropped their price target on Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Citigroup lowered their target price on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Guggenheim restated a “buy” rating and issued a $100.00 target price on shares of Wayfair in a research note on Wednesday, May 20th. UBS Group cut their price objective on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Robert W. Baird set a $76.00 price target on shares of Wayfair in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $99.68.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.