Wayfair (NYSE:W) CTO Fiona Tan Sells 7,000 Shares of Company Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were sold at an average price of $125.00, for a total value of $1,000,000.00.
• On Tuesday, October 20th, Fiona Tan sold 8,000 shares of Wayfair stock. The stock was 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 value of $715,260.00.

Wayfair Stock Performance

Shares of W stock opened at $112.08 on Friday. The firm has a market capitalization of $14.79 billion, a P/E ratio of -89.67, a P/E/G ratio of 4.07 and a beta of 3.10. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $127.99. The stock has a 50 day moving average price of $105.88 and a 200 day moving average price of $89.19.

Wayfair (NYSE:W) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, sell-side analysts forecast that Wayfair Inc. will post 0.97 EPS for the current year.

Key Stories Impacting Wayfair

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

Analysts Set New Price Targets

W has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Wayfair from $156.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore restated an “outperform” rating and issued a $130.00 price target on shares of Wayfair in a research note on Wednesday, August 5th. Gordon Haskett upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Wednesday. Wedbush increased their price target on Wayfair from $125.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Piper Sandler upped their price objective on shares of Wayfair from $133.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.57.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Heritage Family Offices LLP purchased a new stake in Wayfair in the third quarter worth about $45,000. Fortitude Family Office LLC boosted its stake in Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock worth $47,000 after purchasing an additional 272 shares during the period. Provenance Wealth Advisors LLC bought a new position in Wayfair during the third quarter valued at $53,000. Reyes Financial Architecture Inc. bought a new stake in Wayfair in the third quarter worth $82,000. Finally, IFP Advisors Inc boosted its holdings in Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

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.