Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 4,801 Shares of Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 4,801 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the transaction, the insider now directly owns 53,152 shares of the company’s stock, valued at approximately $2,708,094.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, April 15th, Jon Blotner sold 4,144 shares of Wayfair stock. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88.
• On Thursday, April 4th, Jon Blotner sold 3,022 shares of Wayfair stock. The stock was sold at an average price of $64.94, for a total transaction of $196,248.68.

Wayfair Stock Down 0.2 %

NYSE:W traded down $0.10 during mid-day trading on Wednesday, reaching $51.44. The company’s stock had a trading volume of 1,593,117 shares, compared to its average volume of 4,248,094. The firm has a market capitalization of $6.19 billion, a PE ratio of -9.60 and a beta of 3.43. The stock has a fifty day moving average of $58.69 and a 200-day moving average of $58.37. Wayfair Inc. has a 1 year low of $38.37 and a 1 year high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. On average, analysts expect that Wayfair Inc. will post -2.94 earnings per share for the current year.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently modified their holdings of the stock. Boston Partners acquired a new position in Wayfair in the 1st quarter worth approximately $769,000. Virtu Financial LLC acquired a new position in Wayfair in the 1st quarter worth approximately $1,548,000. WealthPlan Investment Management LLC increased its holdings in Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after buying an additional 271 shares during the period. Comerica Bank increased its holdings in Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after buying an additional 829 shares during the period. Finally, Tidal Investments LLC acquired a new position in Wayfair in the 1st quarter worth approximately $3,172,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore ISI upgraded shares of Wayfair from an “in-line” rating to an “outperform” rating and upped their price target for the company from $65.00 to $80.00 in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Truist Financial upped their price objective on shares of Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Mizuho began coverage on shares of Wayfair in a report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

Wayfair Company Profile

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.