Wayfair (NYSE:W) CTO Fiona Tan Sells 8,000 Shares of Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 8,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total transaction of $920,000.00. Following the transaction, the chief technology officer owned 196,698 shares of the company’s stock, valued at $22,620,270. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Fiona Tan sold 7,000 shares of Wayfair stock. The stock was sold at an average price of $102.18, for a total transaction of $715,260.00.

Wayfair Stock Up 0.3%

NYSE W opened at $113.59 on Friday. The company’s 50 day moving average is $103.34 and its 200-day moving average is $88.81. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98. The firm has a market cap of $14.99 billion, a P/E ratio of 231.24, a price-to-earnings-growth ratio of 4.07 and a beta of 3.02.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. Wayfair’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. Equities analysts expect that Wayfair Inc. will post 0.93 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on W shares. BMO Capital Markets raised their price target on Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Benchmark started coverage on Wayfair in a research report on Tuesday, July 7th. They issued a “hold” rating for the company. Mizuho boosted their price objective on Wayfair from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Citigroup increased their price objective on Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Piper Sandler raised their target price on Wayfair from $133.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of W. Fortitude Family Office LLC raised its stake in Wayfair by 144.7% in the third quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 272 shares in the last quarter. IFP Advisors Inc grew its stake in Wayfair by 79.2% in the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after buying an additional 358 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Wayfair in the 3rd quarter worth $82,000. ABS Direct Equity Fund LLC bought a new position in shares of Wayfair in the 1st quarter worth $83,000. Finally, Polaris Financial Partners bought a new position in shares of Wayfair in the 3rd quarter worth $113,000. 89.67% of the stock is owned by institutional investors.

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.