Insider Selling: Wayfair Inc. (NYSE:W) CTO Sells $760,813.20 in Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 23,835 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the transaction, the chief technology officer now owns 111,128 shares of the company’s stock, valued at approximately $3,547,205.76. This trade represents a 17.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, January 6th, Fiona Tan sold 7,581 shares of Wayfair stock. The stock was sold at an average price of $47.17, for a total transaction of $357,595.77.
• 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 transaction of $370,462.59.

Wayfair Stock Up 3.4 %

Shares of NYSE:W opened at $25.95 on Friday. The stock has a market capitalization of $3.29 billion, a PE ratio of -6.46 and a beta of 3.72. The firm’s 50 day moving average price is $39.50 and its 200-day moving average price is $44.68. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on W. Wedbush reaffirmed a “neutral” rating and set a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Stifel Nicolaus lowered their price objective on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada dropped their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Jefferies Financial Group upgraded Wayfair from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $47.00 in a report on Friday, March 7th. Finally, Loop Capital dropped their price target on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.84.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of W. True Wealth Design LLC grew its holdings in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp boosted its position in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. GAMMA Investing LLC increased its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Wayfair in the 3rd quarter valued at $44,000. 89.67% of the stock is owned by institutional investors.

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.