Wayfair (NYSE:W) Stock: Insider Jon Blotner Sells 500 Shares

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 500 shares of Wayfair stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the insider directly owned 115,385 shares of the company’s stock, valued at $13,846,200. This represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 15th, Jon Blotner sold 546 shares of Wayfair stock. The shares were sold at an average price of $110.00, for a total value of $60,060.00.
• On Friday, October 2nd, Jon Blotner sold 6,056 shares of Wayfair stock. The shares were sold at an average price of $104.13, for a total value of $630,611.28.
• On Tuesday, September 8th, Jon Blotner sold 6,968 shares of Wayfair stock. The stock was sold at an average price of $100.22, for a total value of $698,332.96.

Wayfair Stock Down 1.2%

Shares of Wayfair stock opened at $111.73 on Wednesday. Wayfair Inc. has a 12 month low of $55.60 and a 12 month high of $122.13. The business has a fifty day simple moving average of $105.19 and a 200 day simple moving average of $89.15. The stock has a market cap of $14.75 billion, a PE ratio of 230.90, a price-to-earnings-growth ratio of 4.07 and a beta of 3.10.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Analysts expect that Wayfair Inc. will post 0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on W shares. Royal Bank Of Canada increased their price target on shares of Wayfair from $92.00 to $96.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $120.00 price objective on shares of Wayfair in a report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of Wayfair from $125.00 to $136.00 and gave the company an “overweight” rating in a report on Monday. Zacks Research downgraded shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, UBS Group increased their target price on shares of Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.21.

More Wayfair News

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: JPMorgan raised its price target to $136 from $125 and reiterated an “overweight” rating, signaling increased confidence in Wayfair’s prospects. JPMorgan rating report
• Positive Sentiment: A third-quarter earnings preview cited estimated revenue growth of 7.84%, supported by stronger orders and loyalty gains. The figures are expectations, however, not reported results. Wayfair earnings preview
• Neutral Sentiment: Coverage of Wayfair’s Black Friday pop-up sale and discounts of up to 72% may raise visibility and attract shoppers, but promotions could also weigh on margins. Black Friday sale coverage
• Neutral Sentiment: Insider Jon Blotner sold 500 shares for $60,000 under a pre-arranged Rule 10b5-1 plan. The sale was small compared with his remaining 115,385 shares, making it a limited signal on its own. SEC insider transaction filing
• Negative Sentiment: The earnings preview also flagged challenging housing conditions and weaker overseas demand, risks that could temper growth or weigh on results and guidance. Wayfair earnings preview

Hedge Funds Weigh In On Wayfair

Institutional investors have recently modified their holdings of the business. Brighton Jones LLC boosted its position in shares of Wayfair by 106.3% during the third quarter. Brighton Jones LLC now owns 19,822 shares of the company’s stock worth $2,033,000 after buying an additional 10,213 shares during the period. Ethic Inc. bought a new position in shares of Wayfair during the third quarter worth about $210,000. Parallel Advisors LLC raised its position in Wayfair by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,544 shares of the company’s stock valued at $158,000 after buying an additional 274 shares during the last quarter. Heritage Family Offices LLP acquired a new stake in Wayfair in the 3rd quarter valued at approximately $45,000. Finally, Allegiance Financial Group Advisory Services LLC acquired a new stake in Wayfair in the 3rd quarter valued at approximately $358,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.