Fiona Tan Sells 6,347 Shares of Wayfair (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 6,347 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the sale, the chief technology officer directly owned 198,860 shares in the company, valued at approximately $19,993,384.40. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Wayfair Trading Up 8.6%

Wayfair stock opened at $107.18 on Friday. The company has a fifty day simple moving average of $87.47 and a 200-day simple moving average of $65.04. The stock has a market cap of $13.90 billion, a P/E ratio of -41.87 and a beta of 3.03. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $108.72.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on W. Needham & Company LLC raised their target price on shares of Wayfair from $83.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Mizuho boosted their price objective on shares of Wayfair from $88.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. BMO Capital Markets set a $110.00 price target on Wayfair and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Finally, Cowen restated a “hold” rating on shares of Wayfair in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.96.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. Rothschild & Co Wealth Management UK Ltd increased its position in shares of Wayfair by 1.8% during the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 249,946 shares of the company’s stock worth $22,328,000 after acquiring an additional 4,343 shares during the last quarter. Syon Capital LLC acquired a new stake in Wayfair during the 3rd quarter valued at approximately $227,000. Rothschild Investment LLC increased its holdings in Wayfair by 1,012.5% during the 3rd quarter. Rothschild Investment LLC now owns 1,095 shares of the company’s stock worth $98,000 after purchasing an additional 1,215 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Wayfair by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 9,562,050 shares of the company’s stock valued at $854,178,000 after purchasing an additional 397,572 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in shares of Wayfair during the 3rd quarter valued at approximately $8,075,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.