Jon Blotner Sells 6,055 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,055 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total value of $321,338.85. Following the completion of the sale, the insider now directly owns 62,817 shares in the company, valued at $3,333,698.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Jon Blotner also recently made the following trade(s):

• On Monday, July 15th, Jon Blotner sold 4,395 shares of Wayfair stock. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55.

Wayfair Stock Performance

Shares of W opened at $55.83 on Friday. Wayfair Inc. has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The firm has a 50-day simple moving average of $46.85 and a 200-day simple moving average of $54.39. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of -10.42 and a beta of 3.42.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.27) EPS. Equities research analysts forecast that Wayfair Inc. will post -2.68 EPS for the current year.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of W. Riverview Trust Co purchased a new stake in Wayfair in the 1st quarter valued at approximately $27,000. ORG Partners LLC acquired a new stake in shares of Wayfair in the 1st quarter valued at approximately $37,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair in the second quarter valued at approximately $58,000. Comerica Bank grew its holdings in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares during the period. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair in the second quarter worth $109,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on W. Royal Bank of Canada lowered their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Raymond James lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. Loop Capital raised their price target on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lowered their price objective on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Stifel Nicolaus cut their target price on Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and a consensus price target of $65.83.

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.