Wayfair Inc. (NYSE:W) COO Sells $49,963.62 in Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Thomas Netzer also recently made the following trade(s):

• On Tuesday, July 2nd, Thomas Netzer sold 6,625 shares of Wayfair stock. The shares were sold at an average price of $50.74, for a total transaction of $336,152.50.

Wayfair Stock Performance

NYSE W traded up $0.30 on Wednesday, hitting $50.75. 5,842,185 shares of the stock were exchanged, compared to its average volume of 4,272,521. Wayfair Inc. has a 52-week low of $38.02 and a 52-week high of $76.18. The stock has a fifty day moving average price of $46.58 and a two-hundred day moving average price of $54.94. The firm has a market capitalization of $6.11 billion, a P/E ratio of -9.47 and a beta of 3.40.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the firm posted ($1.27) EPS. Wayfair’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on W. Loop Capital reduced their price objective on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Citigroup cut their price objective on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Piper Sandler dropped their price target on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Barclays dropped their target price on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Twelve analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.63.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in Wayfair by 8.7% in the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares in the last quarter. Norges Bank purchased a new stake in Wayfair in the fourth quarter valued at $47,374,000. Renaissance Technologies LLC lifted its stake in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after buying an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% in 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 purchasing an additional 432,404 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new stake in shares of Wayfair during the fourth quarter worth about $23,552,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.