Wayfair (NYSE:W) Insider Jon Blotner Sells 546 Shares of Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 546 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $110.00, for a total value of $60,060.00. Following the completion of the transaction, the insider owned 115,885 shares in the company, valued at approximately $12,747,350. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 2nd, Jon Blotner sold 6,056 shares of Wayfair stock. The shares were sold at an average price of $104.13, for a total value of $630,611.28.
• On Tuesday, September 8th, Jon Blotner sold 6,968 shares of Wayfair stock. The stock was sold at an average price of $100.22, for a total value of $698,332.96.

Wayfair Stock Up 4.2%

Shares of Wayfair stock traded up $4.53 during trading hours on Monday, reaching $111.81. 2,162,916 shares of the stock traded hands, compared to its average volume of 3,448,153. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98. The firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of -45.45, a P/E/G ratio of 3.86 and a beta of 3.02. The company has a 50 day moving average price of $102.50 and a 200 day moving average price of $87.71.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Sell-side analysts anticipate that Wayfair Inc. will post 0.93 earnings per share for the current year.

Hedge Funds Weigh In On Wayfair

Large investors have recently made changes to their positions in the business. Kaufman Rossin Wealth LLC purchased a new stake in shares of Wayfair during the third quarter worth about $219,000. IFP Advisors Inc raised its stake in Wayfair by 153.5% during the 3rd quarter. IFP Advisors Inc now owns 2,053 shares of the company’s stock valued at $211,000 after purchasing an additional 1,243 shares during the period. Chemistry Wealth Management LLC lifted its holdings in Wayfair by 0.6% in the 3rd quarter. Chemistry Wealth Management LLC now owns 45,643 shares of the company’s stock worth $4,681,000 after purchasing an additional 275 shares in the last quarter. Curated Wealth Partners LLC purchased a new position in Wayfair in the 3rd quarter worth approximately $630,000. Finally, Fortitude Family Office LLC lifted its holdings in Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock worth $47,000 after purchasing an additional 272 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair plans to open a physical furniture store in Denver next month. The location could expand brand visibility, provide customers with an in-person shopping option and support an omnichannel strategy, although the store may also add operating costs before contributing materially to revenue. Furniture retailer Wayfair to open brick-and-mortar store in Denver next month
• Neutral Sentiment: Recent coverage highlights Wayfair’s home-furnishings assortment, seasonal promotions and discounted products. These articles may support customer engagement and sales activity, but the emphasis on discounts could pressure gross margins and does not provide evidence of a material change in financial forecasts. Wayfair comforter promotion
• Neutral Sentiment: A head-to-head survey comparing Brilliant Earth Group and Wayfair offers limited direct insight into Wayfair’s earnings outlook or near-term valuation. Brilliant Earth Group and Wayfair head-to-head survey
• Negative Sentiment: Director Steven Conine and CEO Niraj Shah each sold 117,000 shares at an average price of $111.25, reducing their direct holdings by roughly 53% and generating approximately $13.0 million apiece. The transactions may weigh on sentiment because of their size, though both were scheduled under Rule 10b5-1 plans. Wayfair insider sale filing
• Negative Sentiment: Insider Jon Blotner sold 546 shares for about $60,060. The transaction was small relative to his remaining ownership and was also made under a pre-arranged trading plan, limiting its significance. Wayfair insider transaction filing

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. upped their price objective on Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Evercore reiterated an “outperform” rating and set a $130.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. Finally, Truist Financial boosted their price target on Wayfair from $99.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and a consensus price target of $120.93.

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.