Insider Selling: Wayfair Inc. (NYSE:W) CTO Sells 10,040 Shares of Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wayfair Price Performance

W stock traded down $0.61 during midday trading on Thursday, reaching $52.44. 2,682,771 shares of the company were exchanged, compared to its average volume of 4,281,299. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of -9.78 and a beta of 3.40. The business has a 50-day moving average price of $46.72 and a two-hundred day moving average price of $54.43.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.27) EPS. As a group, analysts anticipate that Wayfair Inc. will post -2.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

W has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Loop Capital increased their target price on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Stifel Nicolaus decreased their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Piper Sandler reduced 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. Finally, Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.83.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in W. WealthPlan Investment Management LLC increased its stake in Wayfair by 5.6% during the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after purchasing an additional 271 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Wayfair by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after purchasing an additional 360 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares in the last quarter. Riverview Trust Co bought a new position in shares of Wayfair in the first quarter worth $27,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after buying an additional 471 shares in the last quarter. 89.67% of the stock is currently owned by 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.