Wayfair Inc. (NYSE:W) Insider Jon Blotner Sells 19,257 Shares of Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 19,257 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares of the company’s stock, valued at $2,480,797.44. This trade represents a 19.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, January 13th, Jon Blotner sold 5,669 shares of Wayfair stock. The stock was sold at an average price of $42.83, for a total value of $242,803.27.
• On Monday, January 6th, Jon Blotner sold 4,521 shares of Wayfair stock. The stock was sold at an average price of $46.88, for a total value of $211,944.48.
• On Friday, January 3rd, Jon Blotner sold 4,966 shares of Wayfair stock. The shares were sold at an average price of $44.93, for a total transaction of $223,122.38.

Wayfair Stock Up 5.5 %

W stock opened at $33.70 on Thursday. The stock’s 50 day moving average is $40.41 and its two-hundred day moving average is $45.01. Wayfair Inc. has a 52-week low of $28.47 and a 52-week high of $76.18. The company has a market capitalization of $4.28 billion, a PE ratio of -8.38 and a beta of 3.44.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on W. Truist Financial lowered their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group dropped their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reduced their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Stifel Nicolaus dropped their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, Loop Capital reduced their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average target price of $56.81.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently bought and sold shares of W. Cerity Partners LLC acquired a new stake in Wayfair during the third quarter valued at approximately $1,070,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wayfair in the 3rd quarter valued at approximately $44,000. Atom Investors LP raised its position in shares of Wayfair by 13.0% during the 3rd quarter. Atom Investors LP now owns 29,738 shares of the company’s stock valued at $1,671,000 after acquiring an additional 3,427 shares in the last quarter. Cinctive Capital Management LP bought a new position in Wayfair during the third quarter worth $4,464,000. Finally, Holocene Advisors LP boosted its holdings in Wayfair by 5,699.8% in the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.