Key Points
- Wayfair insider Jon Blotner sold 5,925 shares on July 2 at an average price of $96.29, for total proceeds of about $570,518. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- The transaction reduced Blotner’s ownership by 4.81%, leaving him with 117,344 shares valued at roughly $11.3 million after the sale.
- Wayfair shares were down 1.4% in the session, while the company recently reported quarterly EPS in line with estimates and revenue above expectations. Analysts currently rate the stock a consensus Moderate Buy with a price target of $99.68.
Wayfair Inc. (NYSE:W - Get Free Report) insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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.
Wayfair Trading Down 1.4%
Shares of W opened at $93.17 on Tuesday. The firm has a market cap of $12.30 billion, a PE ratio of -39.82, a P/E/G ratio of 4.97 and a beta of 2.96. Wayfair Inc. has a 12 month low of $53.07 and a 12 month high of $119.98. The stock has a fifty day moving average price of $75.19 and a 200-day moving average price of $84.28.
Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. As a group, research analysts forecast that Wayfair Inc. will post 0.63 EPS for the current year.
Analyst Ratings Changes
A number of analysts recently commented on W shares. Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Wayfair in a research note on Wednesday, May 20th. The Goldman Sachs Group set a $79.00 price target on shares of Wayfair in a report on Friday, May 1st. Weiss Ratings upgraded shares of Wayfair from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. TD Cowen dropped their price objective on shares of Wayfair from $88.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday, April 30th. Finally, Wells Fargo & Company cut their target price on Wayfair from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Wayfair presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.
Check Out Our Latest Stock Report on Wayfair
Hedge Funds Weigh In On Wayfair
A number of institutional investors have recently bought and sold shares of W. Capital World Investors boosted its holdings in shares of Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company's stock valued at $1,351,237,000 after acquiring an additional 82,584 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock worth $967,426,000 after purchasing an additional 72,707 shares during the last quarter. Renaissance Technologies LLC lifted its position in Wayfair by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company's stock valued at $542,950,000 after purchasing an additional 180,558 shares during the period. Janus Henderson Group PLC boosted its holdings in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company's stock valued at $290,813,000 after purchasing an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Wayfair by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company's stock valued at $283,724,000 after purchasing an additional 8,598 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.
Wayfair Company Profile
(
Get Free Report)
Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.
Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.
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