Jon Blotner Sells 5,925 Shares of Wayfair (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Price Performance

Shares of Wayfair stock traded down $1.33 during trading hours on Monday, reaching $93.17. The company’s stock had a trading volume of 2,077,510 shares, compared to its average volume of 3,836,679. The firm has a 50 day moving average price of $74.87 and a 200-day moving average price of $84.33. The stock has a market cap of $12.30 billion, a P/E ratio of -39.82, a P/E/G ratio of 4.97 and a beta of 2.96. Wayfair Inc. has a one year low of $53.07 and a one year high of $119.98.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. As a group, sell-side analysts forecast that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Wayfair

Several institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Wayfair by 34.5% during the second quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock worth $315,000 after buying an additional 874 shares in the last quarter. Empowered Funds LLC increased its position in shares of Wayfair by 67.7% during the first quarter. Empowered Funds LLC now owns 6,829 shares of the company’s stock valued at $514,000 after acquiring an additional 2,758 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after purchasing an additional 296,233 shares in the last quarter. Atreides Management LP increased its stake in Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after purchasing an additional 560,133 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of Wayfair by 26.8% in the first quarter. California State Teachers Retirement System now owns 119,772 shares of the company’s stock valued at $9,008,000 after purchasing an additional 25,317 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on W. Citigroup reduced their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. TD Cowen reduced their price objective on Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Weiss Ratings raised shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Mizuho cut their price objective on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Canaccord Genuity Group cut their price target on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average price target of $99.68.

About Wayfair

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.