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

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $125.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief technology officer owned 188,698 shares of the company’s stock, valued at $23,587,250. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Thursday, November 5th, Fiona Tan sold 7,000 shares of Wayfair stock. The shares were sold at an average price of $122.73, for a total transaction of $859,110.00.
• 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 stock was sold at an average price of $102.18, for a total transaction of $715,260.00.

Wayfair Price Performance

Shares of W opened at $112.08 on Friday. The stock has a 50-day moving average of $105.88 and a 200-day moving average of $89.19. The company has a market cap of $14.79 billion, a PE ratio of -89.67, a P/E/G ratio of 3.85 and a beta of 3.10. Wayfair Inc. has a one year low of $55.60 and a one year high of $127.99.

Wayfair (NYSE:W) last issued its 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 business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Wayfair had a negative return on equity of 5.14% and a negative net margin of 1.21%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Analysts expect that Wayfair Inc. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on W. BNP Paribas Exane upped their target price on Wayfair from $108.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen increased their target price on Wayfair from $110.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday. Raymond James Financial reissued a “strong-buy” rating and issued a $135.00 price target on shares of Wayfair in a research report on Wednesday. Rosenblatt Securities began coverage on shares of Wayfair in a research note on Thursday, August 20th. They set a “buy” rating and a $125.00 price target for the company. Finally, Guggenheim upped their price objective on shares of Wayfair from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.57.

Wayfair News Summary

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair’s third-quarter results beat estimates: earnings were $0.93 per share versus $0.80 expected, and revenue was $3.42 billion versus $3.38 billion expected. U.S. sales grew 11.4%, with improved advertising leverage and market-share gains contributing to the performance. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Analysts raised targets following the results. Notable moves included UBS to $165 with a Buy rating, Needham to $145 with a Buy rating, and Wells Fargo to $140 with an Overweight rating; Deutsche Bank lifted its target to $140 but maintained Hold. Wayfair analyst coverage
• Neutral Sentiment: CTO Fiona Tan sold 15,000 shares across November 4–5 for about $1.86 million. The sales were made under a pre-arranged Rule 10b5-1 plan, and she retained 181,698 shares, making the transactions a less direct indicator of her near-term view of the stock. SEC Form 4 filing
• Negative Sentiment: Management expects higher holiday advertising spending in the fourth quarter. Although Wayfair forecast high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin, increased marketing costs could weigh on near-term profitability. Wayfair forecasts Q4 growth and adjusted EBITDA margin

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently modified their holdings of W. Versant Capital Management Inc increased its stake in 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 purchasing an additional 140 shares in the last quarter. Flynn Zito Capital Management LLC lifted its stake 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 buying an additional 168 shares in the last quarter. Eurizon Capital SGR S.p.A. grew its holdings in shares of Wayfair by 10.5% during the third quarter. Eurizon Capital SGR S.p.A. now owns 1,836 shares of the company’s stock valued at $187,000 after buying an additional 175 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Wayfair by 0.7% during the second 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 during the last quarter. Finally, Triumph Capital Management increased its position in shares of Wayfair by 6.3% during the second quarter. Triumph Capital Management now owns 3,498 shares of the company’s stock valued at $323,000 after acquiring an additional 207 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares.

The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets.

Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.