Jon Blotner Sells 4,801 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 4,801 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total value of $244,610.95. Following the completion of the sale, the insider now directly owns 53,152 shares of the company’s stock, valued at approximately $2,708,094.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Wayfair Stock Performance

W traded down $0.10 during mid-day trading on Wednesday, reaching $51.44. The stock had a trading volume of 1,593,117 shares, compared to its average volume of 4,248,094. The stock has a market capitalization of $6.19 billion, a P/E ratio of -9.60 and a beta of 3.43. The firm’s fifty day simple moving average is $58.69 and its two-hundred day simple moving average is $58.37. Wayfair Inc. has a 52 week low of $38.37 and a 52 week high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. As a group, analysts expect that Wayfair Inc. will post -2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Wayfair by 31.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after purchasing an additional 94,540 shares during the period. Vanguard Group Inc. raised its stake in shares of Wayfair by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after purchasing an additional 386,717 shares during the period. International Assets Investment Management LLC raised its stake in shares of Wayfair by 8,977.8% in the 4th quarter. International Assets Investment Management LLC now owns 67,993 shares of the company’s stock valued at $4,195,000 after purchasing an additional 67,244 shares during the period. Honeycomb Asset Management LP acquired a new stake in shares of Wayfair in the 4th quarter valued at about $6,170,000. Finally, Northern Trust Corp raised its stake in shares of Wayfair by 6.5% in the 3rd quarter. Northern Trust Corp now owns 375,336 shares of the company’s stock valued at $22,734,000 after purchasing an additional 23,022 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

W has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Loop Capital dropped their price objective on Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Wayfair in a research note on Friday, May 3rd. Evercore ISI upgraded Wayfair from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $65.00 to $80.00 in a research note on Thursday, April 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $91.00 price objective (up from $88.00) on shares of Wayfair in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen 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 $78.50.

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.