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

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 8,249 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the completion of the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at $4,336,374.87. The trade was a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 value of $357,595.77.

Wayfair Price Performance

NYSE W traded down $2.32 during trading hours on Tuesday, hitting $46.17. The company’s stock had a trading volume of 2,854,610 shares, compared to its average volume of 3,330,002. The company has a market cap of $5.79 billion, a P/E ratio of -10.28 and a beta of 3.43. The company’s 50 day simple moving average is $45.18 and its two-hundred day simple moving average is $47.74. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data 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 company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.38) earnings per share. As a group, research analysts predict that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. Mizuho decreased their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. UBS Group cut their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Piper Sandler reduced their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in shares of 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 buying an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares during the period. Geode Capital Management LLC boosted its stake 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 acquiring an additional 35,268 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of Wayfair during the 3rd quarter valued at $78,652,000. Finally, Holocene Advisors LP grew its position in shares of Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after acquiring an additional 1,213,896 shares during the period. 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.