Insider Selling: Wayfair Inc. (NYSE:W) COO Sells 8,435 Shares of Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 8,435 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $447,561.10. Following the transaction, the chief operating officer now owns 179,180 shares of the company’s stock, valued at $9,507,290.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 17th, Thomas Netzer sold 1,011 shares of Wayfair stock. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62.

Wayfair Price Performance

Shares of W stock traded down $0.61 during mid-day trading on Thursday, hitting $52.44. The stock had a trading volume of 2,682,771 shares, compared to its average volume of 4,281,299. Wayfair Inc. has a 12-month low of $38.02 and a 12-month high of $76.18. The firm’s 50-day moving average is $46.72 and its two-hundred day moving average is $54.43. The firm has a market capitalization of $6.31 billion, a P/E ratio of -9.78 and a beta of 3.40.

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 firm 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) EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts expect that Wayfair Inc. will post -2.68 EPS for the current year.

Institutional Trading of Wayfair

A number of hedge funds have recently bought and sold shares of W. Riverview Trust Co bought a new stake in shares of Wayfair in the 1st quarter valued at about $27,000. ORG Partners LLC acquired a new position in Wayfair during the 1st quarter valued at about $37,000. International Assets Investment Management LLC purchased a new stake in Wayfair in the second quarter valued at about $58,000. Comerica Bank raised its stake in Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after acquiring an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on W. Stifel Nicolaus decreased their target price on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays cut their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Truist Financial lowered their price target on Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.83.

About Wayfair

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.