Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells $610,061.76 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 19,257 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total transaction of $610,061.76. Following the sale, the insider now directly owns 78,308 shares of the company’s stock, valued at $2,480,797.44. This trade represents a 19.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, January 13th, Jon Blotner sold 5,669 shares of Wayfair stock. The shares were sold at an average price of $42.83, for a total value of $242,803.27.
• On Monday, January 6th, Jon Blotner sold 4,521 shares of Wayfair stock. The stock was sold at an average price of $46.88, for a total value of $211,944.48.
• On Friday, January 3rd, Jon Blotner sold 4,966 shares of Wayfair stock. The shares were sold at an average price of $44.93, for a total value of $223,122.38.

Wayfair Price Performance

Wayfair stock opened at $25.95 on Friday. The firm’s 50 day moving average price is $39.50 and its 200-day moving average price is $44.72. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18. The stock 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 announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. As a group, equities analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Stifel Nicolaus dropped their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Bank of America decreased their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Piper Sandler set a $58.00 price target on Wayfair and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Raymond James set a $60.00 price objective on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Fifteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.84.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in W. True Wealth Design LLC grew its holdings in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC grew its position in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wayfair in the third quarter worth about $44,000. 89.67% of the stock is owned by institutional investors.

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.