Wayfair (NYSE:W) CTO Sells 7,000 Shares of Company Stock

Key Points

• Wayfair CTO Fiona Tan sold 7,000 shares at an average price of $102.18, generating $715,260. The transaction occurred under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards, leaving her with 204,698 shares.
• Wayfair shares recently traded at $106.19, near the upper end of their 12-month range of $55.60 to $119.98. The company exceeded quarterly earnings and revenue estimates, reporting $0.95 EPS and $3.52 billion in revenue, with year-over-year revenue growth of 7.5%.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $120.89, while institutional investors own approximately 89.67% of the company.

Wayfair Inc. (NYSE:W - Get Free Report) CTO Fiona Tan sold 7,000 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $102.18, for a total transaction of $715,260.00. Following the transaction, the chief technology officer directly owned 204,698 shares in the company, valued at approximately $20,916,041.64. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wayfair Stock Performance

Shares of NYSE W traded up $4.94 during midday trading on Monday, hitting $106.19. 2,368,626 shares of the company traded hands, compared to its average volume of 3,521,193. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98. The stock has a 50-day moving average price of $100.78 and a 200 day moving average price of $85.49. The firm has a market cap of $14.02 billion, a P/E ratio of -43.17, a P/E/G ratio of 3.64 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results 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 during 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%. Wayfair's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, equities analysts expect that Wayfair Inc. will post 0.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on W. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $120.00 price objective on shares of Wayfair in a report on Wednesday, August 5th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Wayfair in a research report on Tuesday, September 1st. Benchmark started coverage on shares of Wayfair in a research note on Tuesday, July 7th. They issued a "hold" rating for the company. Citigroup lifted their price target on shares of Wayfair from $95.00 to $133.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Finally, TD Cowen boosted their price objective on shares of Wayfair from $75.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Two 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $120.89.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new stake in shares of Wayfair in the second quarter worth $3,207,000. Assenagon Asset Management S.A. boosted its holdings in Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company's stock worth $75,654,000 after buying an additional 242,791 shares during the period. Dockside LLC purchased a new stake in Wayfair in the 4th quarter worth $1,990,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Wayfair during the second quarter valued at about $2,001,000. Finally, Atreides Management LP lifted its position in shares of Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company's stock valued at $107,625,000 after acquiring an additional 560,133 shares in the last quarter. Institutional investors own 89.67% of the company's stock.

About Wayfair

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.

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