Wayfair (NYSE:W) CTO Sells $920,000.00 in Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 8,000 shares of Wayfair stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total value of $920,000.00. Following the transaction, the chief technology officer owned 196,698 shares in the company, valued at approximately $22,620,270. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Fiona Tan sold 7,000 shares of Wayfair stock. The stock was sold at an average price of $102.18, for a total transaction of $715,260.00.

Wayfair Trading Up 0.3%

W stock traded up $0.28 during trading on Thursday, reaching $113.59. 1,741,242 shares of the stock were exchanged, compared to its average volume of 3,421,795. The firm has a market capitalization of $14.99 billion, a price-to-earnings ratio of -46.18, a P/E/G ratio of 4.08 and a beta of 3.02. The business has a 50 day moving average price of $103.08 and a 200-day moving average price of $88.52. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $119.98.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts anticipate that Wayfair Inc. will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently made changes to their positions in the stock. Fortitude Family Office LLC raised its stake in shares of Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock valued at $47,000 after acquiring an additional 272 shares during the period. Reyes Financial Architecture Inc. acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $82,000. IFP Advisors Inc boosted its position in shares of Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after purchasing an additional 358 shares during the period. Polaris Financial Partners purchased a new position in shares of Wayfair during the 3rd quarter worth approximately $113,000. Finally, ABS Direct Equity Fund LLC purchased a new position in shares of Wayfair during the 1st quarter worth approximately $83,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup upped their price objective on Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Benchmark started coverage on Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Royal Bank Of Canada lifted their target price on Wayfair from $78.00 to $92.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Guggenheim lifted their target price on Wayfair from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $120.00 price target on shares of Wayfair in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.