Wayfair (NYSE:W) Insider Jon Blotner Sells 4,997 Shares

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 4,997 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $105.84, for a total value of $528,882.48. Following the transaction, the insider owned 106,107 shares of the company’s stock, valued at $11,230,364.88. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wayfair Stock Performance

Shares of NYSE:W traded down $1.15 on Monday, hitting $105.41. The stock had a trading volume of 2,844,002 shares, compared to its average volume of 2,177,381. The firm’s 50 day moving average price is $102.31 and its 200-day moving average price is $83.47. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $114.92. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of -41.18 and a beta of 3.31.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.01 billion. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cowen reaffirmed a “hold” rating on shares of Wayfair in a report on Wednesday, October 29th. Guggenheim increased their target price on Wayfair from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Royal Bank Of Canada lifted their price target on Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Wells Fargo & Company upped their price target on shares of Wayfair from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Evercore ISI raised their price objective on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.29.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Wayfair by 111.7% during the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after acquiring an additional 276,471 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Wayfair during the 1st quarter valued at about $452,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Wayfair by 29.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock valued at $2,147,000 after purchasing an additional 15,084 shares during the period. Scientech Research LLC grew its position in shares of Wayfair by 33.1% in the 1st quarter. Scientech Research LLC now owns 36,187 shares of the company’s stock valued at $1,159,000 after purchasing an additional 9,003 shares during the period. Finally, Fred Alger Management LLC increased its stake in Wayfair by 40.1% during the 1st quarter. Fred Alger Management LLC now owns 88,264 shares of the company’s stock worth $2,827,000 after purchasing an additional 25,260 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.