Insider Buying: Wayfair Inc (W) Director Acquires 3,000 Shares of Stock

Wayfair Inc (NYSE:W) Director Michael Andrew Kumin purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $141.04 per share, for a total transaction of $423,120.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of W traded up $2.42 during trading hours on Wednesday, hitting $144.22. 881,516 shares of the stock traded hands, compared to its average volume of 2,044,246. Wayfair Inc has a 1-year low of $76.60 and a 1-year high of $173.72. The firm has a market capitalization of $13.22 billion, a PE ratio of -25.71 and a beta of 2.02.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.02). The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business earned ($0.91) earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities analysts predict that Wayfair Inc will post -8.39 EPS for the current fiscal year.

A number of research firms have commented on W. Credit Suisse Group raised Wayfair from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $117.00 to $130.00 in a research note on Monday, January 28th. Deutsche Bank began coverage on Wayfair in a research note on Tuesday, January 29th. They issued a “buy” rating and a $124.00 price objective on the stock. Oppenheimer boosted their price objective on Wayfair from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 8th. Zacks Investment Research lowered Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Finally, Loop Capital boosted their price objective on Wayfair from $145.00 to $155.00 and gave the stock a “positive” rating in a research note on Friday, February 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $149.90.

Several institutional investors and hedge funds have recently modified their holdings of W. PNC Financial Services Group Inc. lifted its stake in shares of Wayfair by 40.0% during the first quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock valued at $45,000 after acquiring an additional 84 shares during the period. Investors Research Corp acquired a new position in shares of Wayfair during the first quarter valued at $52,000. LS Investment Advisors LLC bought a new stake in Wayfair in the fourth quarter valued at about $60,000. Catamount Wealth Management bought a new stake in Wayfair in the first quarter valued at about $74,000. Finally, Strs Ohio bought a new stake in Wayfair in the first quarter valued at about $102,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

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About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Insider Buying and Selling by Quarter for Wayfair (NYSE:W)

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