Jon Blotner Sells 6,968 Shares of Wayfair (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,968 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $100.22, for a total value of $698,332.96. Following the sale, the insider directly owned 110,376 shares in the company, valued at $11,061,882.72. The trade was a 5.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Jon Blotner sold 5,925 shares of Wayfair stock. The shares were sold at an average price of $96.29, for a total value of $570,518.25.

Wayfair Stock Performance

Shares of Wayfair stock opened at $98.73 on Friday. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of -40.14, a price-to-earnings-growth ratio of 3.50 and a beta of 2.99. The stock has a 50 day moving average price of $96.67 and a 200-day moving average price of $82.69. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.Wayfair’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. Sell-side analysts predict that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on W shares. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Truist Financial upped their price target on shares of Wayfair from $99.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Robert W. Baird set a $116.00 price objective on shares of Wayfair in a research note on Wednesday, August 5th. Finally, Wedbush boosted their target price on Wayfair from $85.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.89.

Institutional Trading of Wayfair

Large investors have recently made changes to their positions in the stock. Piper Sandler & CO. purchased a new position in Wayfair in the 4th quarter worth about $34,000. Havemeyer Place LP purchased a new stake in Wayfair in the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC grew its stake in Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after acquiring an additional 653 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Wayfair in the 4th quarter worth about $44,000. Finally, Larson Financial Group LLC increased its position in shares of Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after acquiring an additional 120 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.