Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells $321,338.85 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,055 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total value of $321,338.85. Following the completion of the sale, the insider now directly owns 62,817 shares in the company, valued at $3,333,698.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, July 15th, Jon Blotner sold 4,395 shares of Wayfair stock. The shares were sold at an average price of $56.09, for a total value of $246,515.55.

Wayfair Stock Performance

Wayfair stock opened at $55.82 on Friday. The company has a market cap of $6.72 billion, a price-to-earnings ratio of -10.41 and a beta of 3.42. Wayfair Inc. has a 1 year low of $38.02 and a 1 year high of $76.18. The firm has a 50 day moving average price of $46.85 and a 200 day moving average price of $54.35.

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

Analyst Ratings Changes

A number of research firms have commented on W. Raymond James reduced their target price on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. Wedbush cut their price target on Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Loop Capital increased their price objective on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price target on shares of Wayfair in a report on Thursday, September 26th. Finally, Stifel Nicolaus dropped their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.83.

Institutional Trading of Wayfair

A number of institutional investors have recently added to or reduced their stakes in W. Advisory Services Network LLC purchased a new position in Wayfair in the fourth quarter valued at about $201,000. Hsbc Holdings PLC grew its stake in shares of Wayfair by 33.7% in the fourth quarter. Hsbc Holdings PLC now owns 72,717 shares of the company’s stock valued at $4,518,000 after buying an additional 18,316 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Wayfair by 1.0% in 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 buying an additional 360 shares in the last quarter. Bank of Nova Scotia purchased a new stake in shares of Wayfair during the 4th quarter valued at about $860,000. Finally, CIBC Private Wealth Group LLC lifted its position in Wayfair by 6.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 99,726 shares of the company’s stock worth $6,153,000 after acquiring an additional 6,133 shares in the last quarter. 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.