Wayfair Inc (NYSE:W) COO Sells $374,024.16 in Stock

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Wayfair Inc (NYSE:W) COO Thomas Netzer sold 2,946 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $126.96, for a total value of $374,024.16. Following the completion of the transaction, the chief operating officer now owns 18,255 shares in the company, valued at $2,317,654.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of W stock opened at $122.82 on Thursday. The stock has a market cap of $11.67 billion, a PE ratio of -21.89 and a beta of 1.88. Wayfair Inc has a 1-year low of $76.60 and a 1-year high of $173.72. The firm’s 50-day moving average is $142.73.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported ($1.35) earnings per share for the quarter, beating the consensus estimate of ($1.97) by $0.62. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.26 billion. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.77) earnings per share. On average, equities analysts expect that Wayfair Inc will post -8.34 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of W. BB&T Securities LLC increased its position in Wayfair by 104.3% during the 2nd quarter. BB&T Securities LLC now owns 4,144 shares of the company’s stock valued at $605,000 after buying an additional 2,116 shares in the last quarter. Janus Henderson Group PLC increased its position in Wayfair by 1.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,305,740 shares of the company’s stock valued at $336,638,000 after buying an additional 39,445 shares in the last quarter. Jennison Associates LLC bought a new position in Wayfair during the 2nd quarter valued at approximately $1,086,000. Private Wealth Partners LLC bought a new position in Wayfair during the 2nd quarter valued at approximately $219,000. Finally, National Asset Management Inc. bought a new position in Wayfair during the 2nd quarter valued at approximately $268,000. Institutional investors own 80.18% of the company’s stock.

Several equities analysts have recently commented on W shares. Deutsche Bank reduced their price objective on Wayfair from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC started coverage on Wayfair in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 price objective on the stock. Zacks Investment Research lowered Wayfair from a “hold” rating to a “sell” rating in a research report on Saturday, May 11th. Jefferies Financial Group started coverage on Wayfair in a research report on Friday, May 17th. They set a “buy” rating and a $192.00 price objective on the stock. Finally, Berenberg Bank started coverage on Wayfair in a research report on Thursday, May 9th. They set a “sell” rating and a $121.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $154.49.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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