Fiona Tan Sells 23,835 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 23,835 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now directly owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Fiona Tan also recently made the following trade(s):

• On Monday, January 6th, Fiona Tan sold 7,581 shares of Wayfair stock. The shares were sold at an average price of $47.17, for a total value of $357,595.77.
• On Friday, January 3rd, Fiona Tan sold 8,249 shares of Wayfair stock. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59.

Wayfair Trading Up 3.4 %

W opened at $25.95 on Friday. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $76.18. The stock has a 50-day moving average of $39.50 and a 200 day moving average of $44.72. The firm has a market cap of $3.29 billion, a P/E ratio of -6.46 and a beta of 3.72.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in W. Vanguard Group Inc. raised its holdings in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after buying an additional 327,603 shares during the period. Tabor Asset Management LP increased its stake in Wayfair by 11.3% in the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after purchasing an additional 15,932 shares during the period. Groupama Asset Managment lifted its position in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Wayfair during the fourth quarter valued at $6,799,000. Finally, Wellington Management Group LLP increased its stake in Wayfair by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after buying an additional 201,157 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

W has been the subject of several recent research reports. Stifel Nicolaus cut their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group reduced their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Loop Capital lowered their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Raymond James set a $60.00 price target on Wayfair and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wayfair currently has an average rating of “Hold” and a consensus target price of $54.84.

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.