Insider Selling: Wayfair Inc. (NYSE:W) COO Sells 1,039 Shares of Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, October 2nd, Thomas Netzer sold 8,435 shares of Wayfair stock. The shares were sold at an average price of $53.06, for a total transaction of $447,561.10.

Wayfair Stock Down 9.9 %

Shares of NYSE W opened at $45.45 on Thursday. The stock has a market cap of $5.70 billion, a P/E ratio of -10.12 and a beta of 3.44. The firm’s 50-day simple moving average is $46.50 and its 200 day simple moving average is $48.77. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.38) earnings per share. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on W shares. StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a research note on Monday, December 9th. Royal Bank of Canada dropped their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Finally, Mizuho reduced their price target on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently added to or reduced their stakes in the company. Tabor Asset Management LP raised its stake 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 in the last quarter. Groupama Asset Managment grew its holdings in Wayfair by 100.0% during 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 during the period. Wellington Management Group LLP raised its position in Wayfair by 22.4% in 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 in the last quarter. Highland Peak Capital LLC acquired a new stake in Wayfair in the 2nd quarter valued at about $5,165,000. Finally, Sei Investments Co. boosted its position in shares of Wayfair by 32.8% during 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 in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.