Insider Selling: Wayfair Inc. (NYSE:W) CTO Sells 7,581 Shares of Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 7,581 shares of Wayfair stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $47.17, for a total value of $357,595.77. Following the completion of the transaction, the chief technology officer now owns 88,976 shares of the company’s stock, valued at $4,196,997.92. This trade represents a 7.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Fiona Tan also recently made the following trade(s):

• On Friday, January 3rd, Fiona Tan sold 8,249 shares of Wayfair stock. The stock was sold at an average price of $44.91, for a total value of $370,462.59.

Wayfair Price Performance

Shares of NYSE W traded down $2.32 during mid-day trading on Tuesday, reaching $46.17. 2,854,610 shares of the company traded hands, compared to its average volume of 3,330,002. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm has a market cap of $5.79 billion, a PE ratio of -10.28 and a beta of 3.43. The stock has a fifty day simple moving average of $45.18 and a 200-day simple moving average of $47.74.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the business posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts predict that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Wayfair during the 3rd quarter valued at about $29,000. GAMMA Investing LLC lifted its stake in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Wayfair during the third quarter worth approximately $44,000. Brooklyn Investment Group acquired a new position in Wayfair in the third quarter worth approximately $50,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Wayfair in the third quarter valued at $67,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler dropped their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Truist Financial dropped their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Stifel Nicolaus dropped their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research note on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.24.

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.