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 company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $47.17, for a total value of $357,595.77. Following the completion of the sale, the chief technology officer now owns 88,976 shares in the company, valued at approximately $4,196,997.92. This represents a 7.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $44.91, for a total transaction of $370,462.59.

Wayfair Stock Performance

Shares of Wayfair stock opened at $45.29 on Thursday. The business’s 50 day moving average price is $45.24 and its 200 day moving average price is $47.70. The company has a market cap of $5.68 billion, a price-to-earnings ratio of -10.09 and a beta of 3.43. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share 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 period in the previous year, the firm posted ($1.38) EPS. The company’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after acquiring an additional 675,271 shares during the period. Wolf Hill Capital Management LP lifted its stake in shares of Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after purchasing an additional 35,268 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Wayfair during the 3rd quarter worth about $78,652,000. Finally, Holocene Advisors LP raised its holdings in Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after buying an additional 1,213,896 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

W has been the subject of a number of research reports. UBS Group decreased their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Wayfair in a report on Thursday, September 26th. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Finally, Robert W. Baird cut their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Fourteen investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.