Fiona Tan Sells 3,214 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 3,214 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $49.00, for a total value of $157,486.00. Following the completion of the sale, the chief technology officer now owns 70,891 shares in the company, valued at $3,473,659. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 16th, Fiona Tan sold 3,133 shares of Wayfair stock. The stock was sold at an average price of $47.39, for a total value of $148,472.87.
• On Wednesday, April 2nd, Fiona Tan sold 23,835 shares of Wayfair stock. The shares were sold at an average price of $31.92, for a total value of $760,813.20.

Wayfair Price Performance

W stock opened at $49.59 on Friday. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $58.42. The firm’s 50-day moving average is $37.00 and its 200 day moving average is $40.18. The company has a market capitalization of $6.36 billion, a PE ratio of -17.40 and a beta of 2.94.

Wayfair (NYSE:W) last issued its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the company earned ($0.32) earnings per share. Wayfair’s revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on W. Zelman & Associates initiated coverage on shares of Wayfair in a research report on Thursday, May 15th. They issued an “outperform” rating on the stock. The Goldman Sachs Group decreased their target price on shares of Wayfair from $50.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target on shares of Wayfair from $46.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Bank of America boosted their price objective on Wayfair from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Finally, Guggenheim lowered their price objective on Wayfair from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. lifted its stake in Wayfair by 681.8% in the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after acquiring an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP raised its holdings in shares of Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock valued at $124,096,000 after purchasing an additional 1,400,000 shares in the last quarter. Capital World Investors lifted its position in shares of Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock worth $598,596,000 after purchasing an additional 782,757 shares during the period. Norges Bank purchased a new stake in shares of Wayfair in the 4th quarter worth approximately $31,472,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Wayfair during the fourth quarter valued at approximately $30,735,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

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.