Wayfair Inc. (NYSE:W) Insider Sells $782,227.65 in Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Jon Blotner sold 13,857 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total transaction of $782,227.65. Following the completion of the sale, the insider directly owned 91,263 shares of the company's stock, valued at approximately $5,151,796.35. This trade represents a 13.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wayfair Trading Up 2.1%

Shares of NYSE:W traded up $1.14 during trading on Thursday, reaching $56.52. The stock had a trading volume of 4,960,847 shares, compared to its average volume of 4,875,670. The company has a market capitalization of $7.25 billion, a P/E ratio of -19.83 and a beta of 2.97. Wayfair Inc. has a one year low of $20.41 and a one year high of $59.51. The firm's 50-day simple moving average is $46.48 and its 200 day simple moving average is $40.81.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

W has been the subject of several research analyst reports. Bank of America raised their target price on shares of Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Canaccord Genuity Group decreased their price target on Wayfair from $68.00 to $58.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Wayfair in a research report on Thursday, May 1st. Mizuho lowered their target price on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Stifel Nicolaus cut their price target on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.72.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after buying an additional 502 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Wayfair in the fourth quarter worth about $41,000. GAMMA Investing LLC increased its stake in shares of Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after purchasing an additional 609 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after purchasing an additional 1,097 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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