Wayfair (NYSE:W) Insider Sells $630,611.28 in Stock

Key Points

• Wayfair insider Jon Blotner sold 6,056 shares for approximately $630,611 at an average price of $104.13, reducing his position by 4.94%. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding related to vested equity awards.
• Wayfair shares traded at $106.19, with a market capitalization of about $14.02 billion. The company recently reported quarterly EPS of $0.95 and revenue of $3.52 billion, exceeding analyst expectations, while revenue increased 7.5% year over year.
• Analysts maintain a generally positive outlook, with the stock holding a consensus “Moderate Buy” rating and an average price target of $120.89; institutional investors own approximately 89.67% of the company.

Wayfair Inc. (NYSE:W - Get Free Report) insider Jon Blotner sold 6,056 shares of Wayfair stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $104.13, for a total value of $630,611.28. Following the sale, the insider owned 116,431 shares of the company's stock, valued at approximately $12,123,960.03. This trade represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.

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

• On Tuesday, September 8th, Jon Blotner sold 6,968 shares of Wayfair stock. The stock was sold at an average price of $100.22, for a total transaction of $698,332.96.

Wayfair Stock Performance

Wayfair stock traded up $4.94 during mid-day 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 one year low of $55.60 and a one year high of $119.98. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of -43.17, a price-to-earnings-growth ratio of 3.64 and a beta of 3.02. The stock has a fifty day moving average price of $100.78 and a 200-day moving average price of $85.49.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS 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 analyst estimates of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Sell-side analysts predict that Wayfair Inc. will post 0.93 EPS for the current year.

Institutional Trading of Wayfair

Institutional investors have recently made changes to their positions in the stock. Havemeyer Place LP bought a new position in shares of Wayfair in the fourth quarter worth approximately $39,000. IFP Advisors Inc boosted its position in Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company's stock valued at $75,000 after buying an additional 358 shares during the period. Polaris Financial Partners purchased a new stake in Wayfair during the 3rd quarter valued at $113,000. ABS Direct Equity Fund LLC bought a new stake in Wayfair in the 1st quarter worth $83,000. Finally, Parallel Advisors LLC increased its position in shares of Wayfair by 18.6% in the first quarter. Parallel Advisors LLC now owns 1,661 shares of the company's stock valued at $125,000 after acquiring an additional 261 shares during the period. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore reissued an "outperform" rating and set a $130.00 price target on shares of Wayfair in a research note on Wednesday, August 5th. Piper Sandler reaffirmed an "overweight" rating and set a $133.00 target price on shares of Wayfair in a report on Wednesday, September 30th. Wells Fargo & Company lifted their target price on shares of Wayfair from $100.00 to $130.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Wayfair from $78.00 to $92.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley restated an "overweight" rating on shares of Wayfair in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.89.

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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