Jon Blotner Sells 6,055 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 6,055 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the sale, the insider now owns 62,817 shares in the company, valued at approximately $3,333,698.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, July 15th, Jon Blotner sold 4,395 shares of Wayfair stock. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55.

Wayfair Price Performance

Shares of W opened at $55.83 on Friday. The firm has a 50-day simple moving average of $46.85 and a two-hundred day simple moving average of $54.39. Wayfair Inc. has a 1-year low of $38.02 and a 1-year high of $76.18. The stock has a market cap of $6.89 billion, a PE ratio of -10.42 and a beta of 3.42.

Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the business earned ($1.27) EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Wayfair Inc. will post -2.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on W. Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Wayfair in a report on Thursday, September 26th. Wedbush decreased their price objective on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Royal Bank of Canada decreased their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $65.83.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Wayfair during the first quarter worth about $937,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wayfair by 250.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after purchasing an additional 119,415 shares during the period. Sei Investments Co. grew its holdings in shares of Wayfair by 14.6% in the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after purchasing an additional 12,809 shares in the last quarter. Finally, Highland Peak Capital LLC purchased a new stake in Wayfair during the 2nd quarter worth approximately $5,165,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.