Wayfair Inc. (NYSE:W) CTO Sells $357,595.77 in Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 7,581 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $47.17, for a total value of $357,595.77. Following the transaction, the chief technology officer now directly owns 88,976 shares of the company’s stock, valued at approximately $4,196,997.92. This trade represents a 7.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, January 3rd, Fiona Tan sold 8,249 shares of Wayfair stock. The stock was sold at an average price of $44.91, for a total value of $370,462.59.

Wayfair Price Performance

Shares of W opened at $45.29 on Friday. The firm has a market cap of $5.68 billion, a P/E ratio of -10.09 and a beta of 3.43. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The company has a 50 day simple moving average of $45.34 and a two-hundred day simple moving average of $47.67.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the firm earned ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on W. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Citigroup cut their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Robert W. Baird decreased their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Loop Capital lifted their target price on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Finally, Wedbush downgraded Wayfair from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $44.00 in a report on Monday. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.24.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tabor Asset Management LP increased its holdings in shares of Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after buying an additional 15,932 shares during the last quarter. Groupama Asset Managment grew its position in Wayfair by 100.0% in the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after acquiring an additional 500,000 shares in the last quarter. Wellington Management Group LLP increased its stake in Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after acquiring an additional 201,157 shares during the last quarter. Highland Peak Capital LLC purchased a new stake in Wayfair during the second quarter valued at approximately $5,165,000. Finally, Sei Investments Co. lifted its stake in shares of Wayfair by 32.8% in the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock valued at $7,035,000 after purchasing an additional 32,968 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

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.