Insider Selling: Wayfair (NYSE:W) Insider Sells $698,332.96 in Stock

Key Points

• Wayfair insider Jon Blotner sold 6,968 shares for approximately $698,333 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 5.94% to 110,376 shares.
• Wayfair shares fell 2.6% to $97.52, while the company has a market capitalization of about $12.87 billion and trades between a one-year range of $55.60 and $119.98.
• Wayfair recently exceeded quarterly earnings and revenue estimates, reporting $0.95 EPS and $3.52 billion in revenue; analysts maintain a “Moderate Buy” consensus with an average price target of $119.89.

Wayfair Inc. (NYSE:W - Get Free Report) insider Jon Blotner sold 6,968 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the transaction, the insider owned 110,376 shares in the company, valued at $11,061,882.72. This represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Jon Blotner sold 5,925 shares of Wayfair stock. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25.

Wayfair Trading Down 2.6%

Wayfair stock traded down $2.60 during trading hours on Thursday, hitting $97.52. 2,008,694 shares of the stock traded hands, compared to its average volume of 3,624,680. The firm's 50-day moving average price is $96.51 and its two-hundred day moving average price is $82.46. The company has a market cap of $12.87 billion, a PE ratio of -39.64, a PEG ratio of 3.59 and a beta of 2.99. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 EPS. On average, sell-side analysts expect that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

W has been the subject of several recent research reports. Guggenheim raised their price objective on Wayfair from $100.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 25th. Royal Bank Of Canada lifted their price target on shares of Wayfair from $78.00 to $92.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $120.00 price objective on shares of Wayfair in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Wayfair from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $119.89.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently modified their holdings of the stock. Piper Sandler & CO. purchased a new position in shares of Wayfair in the 4th quarter worth about $34,000. Havemeyer Place LP purchased a new stake in Wayfair during the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC grew its position in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock valued at $42,000 after purchasing an additional 653 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Wayfair during the 4th quarter valued at about $44,000. Finally, Larson Financial Group LLC increased its stake in Wayfair by 30.0% during the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company's stock valued at $46,000 after purchasing an additional 120 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.

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