Wayfair Inc. (NYSE:W) CTO Sells $406,943.04 in Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 8,036 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the sale, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Fiona Tan also recently made the following trade(s):

• On Thursday, April 4th, Fiona Tan sold 4,884 shares of Wayfair stock. The shares were sold at an average price of $65.03, for a total value of $317,606.52.

Wayfair Price Performance

NYSE:W opened at $51.45 on Friday. The business’s 50-day moving average is $58.66 and its two-hundred day moving average is $58.20. The firm has a market capitalization of $6.19 billion, a PE ratio of -9.60 and a beta of 3.43. Wayfair Inc. has a 12 month low of $38.37 and a 12 month high of $90.71.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.11. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. Equities analysts anticipate that Wayfair Inc. will post -2.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley increased their target price on Wayfair from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Argus upgraded Wayfair from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Thursday, May 16th. BMO Capital Markets increased their target price on Wayfair from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $75.00 price target on shares of Wayfair in a research note on Thursday, May 16th. Finally, Loop Capital reduced their price target on Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Institutional Trading of Wayfair

Large investors have recently modified their holdings of the business. Riverview Trust Co acquired a new position in Wayfair in the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wayfair in the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new position in Wayfair in the fourth quarter worth about $31,000. ORG Partners LLC acquired a new position in Wayfair in the first quarter worth about $37,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Wayfair in the fourth quarter worth about $74,000. 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.