Insider Selling: Wayfair Inc. (NYSE:W) COO Sells $49,963.62 in Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Thomas Netzer also recently made the following trade(s):

• On Tuesday, July 2nd, Thomas Netzer sold 6,625 shares of Wayfair stock. The stock was sold at an average price of $50.74, for a total value of $336,152.50.

Wayfair Price Performance

NYSE:W opened at $52.90 on Friday. The firm has a market cap of $6.37 billion, a PE ratio of -9.87 and a beta of 3.40. The company has a 50-day moving average of $46.48 and a 200 day moving average of $54.87. Wayfair Inc. has a 1-year low of $38.02 and a 1-year high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned ($1.27) earnings per share. Sell-side analysts anticipate that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital World Investors raised its stake in shares of Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after acquiring an additional 103,369 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP grew its stake in Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares during the last quarter. Finally, Norges Bank acquired a new position in Wayfair during the 4th quarter valued at about $47,374,000. 89.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Loop Capital decreased their price objective on Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Bank of America lowered Wayfair from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $58.00 in a report on Thursday, August 1st. Citigroup dropped their price objective on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Raymond James reduced their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 2nd. Finally, Guggenheim lowered their target price on shares of Wayfair from $80.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.63.

About Wayfair

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.