Wayfair Inc. (NYSE:W) Director Sells $285,600.00 in Stock
Wayfair Inc. (NYSE:W) Director Michael Andrew Kumin sold 4,080 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $70.00, for a total transaction of $285,600.00. Following the transaction, the director now owns 88,900 shares in the company, valued at approximately $6,223,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Wayfair Inc. (NYSE W) traded up 1.62% during mid-day trading on Friday, hitting $70.13. 586,657 shares of the stock were exchanged. The stock’s 50-day moving average price is $75.93 and its 200-day moving average price is $55.75. Wayfair Inc. has a 52-week low of $27.60 and a 52-week high of $82.19. The company’s market cap is $6.11 billion.
Wayfair (NYSE:W) last posted its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.43. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The business’s quarterly revenue was up 42.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. Equities research analysts anticipate that Wayfair Inc. will post ($1.46) earnings per share for the current fiscal year.
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W has been the subject of a number of research reports. Zacks Investment Research raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Thursday, April 27th. Bank of America Corporation raised shares of Wayfair from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $75.00 in a report on Tuesday, May 9th. Oppenheimer Holdings, Inc. raised shares of Wayfair from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Friday, June 2nd. Gordon Haskett cut shares of Wayfair from a “buy” rating to an “accumulate” rating and upped their target price for the company from $70.00 to $85.00 in a report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) upped their target price on shares of Wayfair from $37.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, May 10th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $69.15.
A number of large investors have recently modified their holdings of W. Spruce House Investment Management LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $101,225,000. Columbia Wanger Asset Management LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $42,729,000. Eventide Asset Management LLC raised its stake in shares of Wayfair by 99.7% in the first quarter. Eventide Asset Management LLC now owns 699,000 shares of the company’s stock valued at $28,303,000 after buying an additional 349,000 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Wayfair by 18.6% in the first quarter. Baillie Gifford & Co. now owns 1,812,214 shares of the company’s stock valued at $73,377,000 after buying an additional 284,599 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Wayfair by 18,904.8% in the second quarter. Russell Investments Group Ltd. now owns 274,239 shares of the company’s stock valued at $21,089,000 after buying an additional 272,796 shares during the last quarter.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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