Insider Selling: Wayfair (NYSE:W) Insider Sells $698,332.96 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,968 shares of Wayfair stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the completion of the transaction, the insider owned 110,376 shares of the company’s stock, valued at $11,061,882.72. This trade represents a 5.94% decrease in their position. The sale was disclosed in a filing 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, July 2nd, Jon Blotner sold 5,925 shares of Wayfair stock. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25.

Wayfair Stock Up 1.3%

Shares of W stock opened at $98.73 on Friday. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The stock has a market capitalization of $13.03 billion, a PE ratio of -40.14, a P/E/G ratio of 3.54 and a beta of 2.99. The firm has a 50 day moving average of $96.67 and a two-hundred day moving average of $82.69.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. 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 previous year, the firm posted $0.87 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts expect that Wayfair Inc. will post 0.93 EPS for the current fiscal year.

Analyst Ratings Changes

W has been the topic of several recent research reports. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Robert W. Baird set a $116.00 price objective on Wayfair in a research note on Wednesday, August 5th. Rosenblatt Securities began coverage on Wayfair in a research report on Thursday, August 20th. They set a “buy” rating and a $125.00 price objective for the company. Evercore reissued an “outperform” rating and set a $130.00 price objective on shares of Wayfair in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $119.89.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in Wayfair during the 2nd quarter worth about $3,207,000. Integrated Wealth Concepts LLC purchased a new position in shares of Wayfair in the 2nd quarter valued at about $349,000. NewEdge Advisors LLC increased its holdings in shares of Wayfair by 572.7% in the 2nd quarter. NewEdge Advisors LLC now owns 4,016 shares of the company’s stock valued at $371,000 after acquiring an additional 3,419 shares during the last quarter. IFP Advisors Inc raised its position in shares of Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after acquiring an additional 358 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in shares of Wayfair during the 2nd quarter worth about $16,362,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.