Wayfair Inc. (NYSE:W) Insider Sells $321,338.85 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,055 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total value of $321,338.85. Following the sale, the insider now directly owns 62,817 shares of the company’s stock, valued at approximately $3,333,698.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, July 15th, Jon Blotner sold 4,395 shares of Wayfair stock. The stock was sold at an average price of $56.09, for a total value of $246,515.55.

Wayfair Trading Down 1.1 %

NYSE:W traded down $0.61 on Thursday, hitting $52.44. 2,682,771 shares of the stock were exchanged, compared to its average volume of 4,281,299. The stock has a market cap of $6.31 billion, a PE ratio of -9.78 and a beta of 3.40. Wayfair Inc. has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The stock has a fifty day moving average of $46.72 and a 200-day moving average of $54.43.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the firm earned ($1.27) EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts predict that Wayfair Inc. will post -2.68 earnings per share for the current year.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky increased its holdings in Wayfair by 12.3% in the 2nd 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 purchasing an additional 13,832 shares in the last quarter. Truist Financial Corp grew 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 buying an additional 3,028 shares in the last quarter. Quarry LP raised its holdings 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 buying an additional 2,288 shares during the period. The Manufacturers Life Insurance Company lifted its position in Wayfair by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock worth $948,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in 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 acquiring an additional 227,908 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus decreased their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group dropped their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.83.

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.