Wayfair Inc. (NYSE:W) COO Sells $49,963.62 in Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Thomas Netzer also recently made the following trade(s):

• On Tuesday, July 2nd, Thomas Netzer sold 6,625 shares of Wayfair stock. The shares were sold at an average price of $50.74, for a total transaction of $336,152.50.

Wayfair Stock Performance

NYSE W traded up $0.30 on Wednesday, reaching $50.75. 5,842,185 shares of the stock traded hands, compared to its average volume of 4,272,521. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -9.47 and a beta of 3.40. Wayfair Inc. has a 12 month low of $38.02 and a 12 month high of $76.18. The company has a fifty day moving average price of $46.58 and a 200-day moving average price of $54.94.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company posted ($1.27) earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Wayfair Inc. will post -2.66 earnings per share for the current fiscal year.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its stake in Wayfair by 12.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company’s stock valued at $6,673,000 after buying an additional 13,832 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Wayfair by 46.6% in the second quarter. Truist Financial Corp now owns 9,527 shares of the company’s stock valued at $502,000 after purchasing an additional 3,028 shares during the period. Quarry LP lifted its position in shares of Wayfair by 880.0% during the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after acquiring an additional 2,288 shares during the period. The Manufacturers Life Insurance Company boosted its position in Wayfair by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock worth $948,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its position in shares of Wayfair by 46.2% in the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after buying an additional 227,908 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on W. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $58.00 in a research note on Thursday, August 1st. Wedbush dropped their price target on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Raymond James reduced their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Loop Capital reduced their target price on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Finally, The Goldman Sachs Group lowered their price target on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.63.

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.