Wayfair (NYSE:W) Stock: Insider Fiona Tan Sells 7,000 Shares

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $122.73, for a total value of $859,110.00. Following the completion of the transaction, the chief technology officer directly owned 181,698 shares of the company’s stock, valued at approximately $22,299,795.54. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 Wednesday, November 4th, Fiona Tan sold 8,000 shares of Wayfair stock. The stock was sold at an average price of $125.00, for a total transaction of $1,000,000.00.
• On Tuesday, October 20th, Fiona Tan sold 8,000 shares of Wayfair stock. The shares were sold at an average price of $115.00, for a total transaction of $920,000.00.
• On Thursday, October 1st, Fiona Tan sold 7,000 shares of Wayfair stock. The shares were sold at an average price of $102.18, for a total value of $715,260.00.

Wayfair Stock Down 1.1%

W traded down $1.30 during trading hours on Friday, hitting $112.08. The stock had a trading volume of 1,644,049 shares, compared to its average volume of 3,372,484. The company’s fifty day simple moving average is $105.74 and its 200 day simple moving average is $89.17. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $127.99. The stock has a market cap of $14.79 billion, a PE ratio of -89.67, a price-to-earnings-growth ratio of 4.26 and a beta of 3.10.

Wayfair (NYSE:W) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Wayfair had a negative net margin of 1.21% and a negative return on equity of 5.14%. Wayfair’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. As a group, equities analysts expect that Wayfair Inc. will post 0.97 EPS for the current year.

Key Headlines Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair beat Q3 earnings and revenue estimates: adjusted EPS was $0.93 versus $0.80 expected, while revenue rose 9.7% year over year to $3.42 billion. U.S. sales growth and market-share gains, alongside better advertising-cost leverage, supported the results. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Several analysts raised price targets, and some maintained or issued bullish ratings. Needham lifted its target to $145 with a Buy rating, while Wells Fargo raised its target to $140 and kept an Overweight rating. Needham recommendations Wells Fargo recommendations
• Neutral Sentiment: Wayfair forecast high-single-digit Q4 growth and a 6%–7% adjusted EBITDA margin, but analysts’ views remain mixed: Deutsche Bank raised its target to $140 while retaining a Hold rating; RBC raised its target to $128 and kept Sector Perform. Deutsche Bank recommendations RBC recommendations
• Negative Sentiment: Management expects heavier holiday advertising spending in Q4. While intended to support growth, the added expense could limit near-term margin improvement and temper the reaction to the Q3 beat.

Analyst Ratings Changes

Several equities research analysts have issued reports on W shares. Gordon Haskett upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Wednesday. Truist Financial upped their price objective on shares of Wayfair from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Wayfair from $125.00 to $136.00 and gave the company an “overweight” rating in a research note on Monday. Robert W. Baird boosted their target price on shares of Wayfair from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Wells Fargo & Company lifted their price objective on Wayfair from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.57.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in shares of Wayfair by 4.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,551 shares of the company’s stock valued at $364,000 after buying an additional 140 shares in the last quarter. Flynn Zito Capital Management LLC increased its holdings in shares of Wayfair by 6.4% in the first quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company’s stock worth $209,000 after purchasing an additional 168 shares during the last quarter. Eurizon Capital SGR S.p.A. boosted its position in shares of Wayfair by 10.5% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 1,836 shares of the company’s stock valued at $187,000 after acquiring an additional 175 shares during the last quarter. Arizona State Retirement System raised its position in shares of Wayfair by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 28,514 shares of the company’s stock valued at $2,635,000 after buying an additional 201 shares in the last quarter. Finally, Triumph Capital Management lifted its stake in shares of Wayfair by 6.3% in the 2nd quarter. Triumph Capital Management now owns 3,498 shares of the company’s stock valued at $323,000 after purchasing an additional 207 shares during the last quarter. 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.