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 the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $47.17, for a total transaction of $357,595.77. Following the completion of the sale, the chief technology officer now owns 88,976 shares in the company, valued at $4,196,997.92. This represents a 7.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

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

Wayfair Stock Performance

Wayfair stock traded down $2.32 during trading on Tuesday, reaching $46.17. 2,854,610 shares of the company’s stock were exchanged, compared to its average volume of 3,330,002. The company’s 50-day moving average is $45.18 and its two-hundred day moving average is $47.74. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -10.28 and a beta of 3.43.

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

Institutional Trading of Wayfair

Several large investors have recently bought and sold shares of W. Capital Performance Advisors LLP acquired a new position in shares of Wayfair in the third quarter worth about $29,000. GAMMA Investing LLC increased its holdings in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wayfair in the 3rd quarter valued at approximately $44,000. Brooklyn Investment Group purchased a new position in shares of Wayfair during the 3rd quarter valued at approximately $50,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair during the third quarter worth approximately $67,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on W shares. Piper Sandler cut their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Royal Bank of Canada cut their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Robert W. Baird cut their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Loop Capital upped their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

About Wayfair

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.