Insider Selling: Wayfair Inc. (NYSE:W) CTO Sells $370,462.59 in Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 8,249 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the transaction, the chief technology officer now owns 96,557 shares of the company’s stock, valued at $4,336,374.87. This represents a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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.

Wayfair Stock Performance

Wayfair stock opened at $45.29 on Friday. The company has a market capitalization of $5.68 billion, a PE ratio of -10.09 and a beta of 3.43. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm has a 50 day moving average price of $45.34 and a 200 day moving average price of $47.67.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.38) earnings per share. As a group, equities research analysts forecast that Wayfair Inc. will post -2.91 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on W shares. BMO Capital Markets lowered their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Loop Capital boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Piper Sandler decreased their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Citigroup lowered their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Guggenheim reiterated a “buy” rating and issued a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. Fourteen investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Wayfair in the third quarter valued at approximately $29,000. GAMMA Investing LLC lifted 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 buying an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair in the 3rd quarter valued at approximately $44,000. Brooklyn Investment Group acquired a new position in shares of Wayfair in the third quarter worth $50,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Wayfair during the third quarter worth $67,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.