Wayfair (NYSE:W) Insider Sells $570,518.25 in Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 5,925 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the transaction, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wayfair Stock Performance

Wayfair stock opened at $86.92 on Thursday. The stock has a market cap of $11.47 billion, a PE ratio of -37.15, a price-to-earnings-growth ratio of 4.90 and a beta of 2.96. Wayfair Inc. has a one year low of $53.13 and a one year high of $119.98. The stock has a fifty day moving average of $75.71 and a 200 day moving average of $84.14.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on W. Mizuho decreased their price objective on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company decreased their price target on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Citigroup decreased their price objective on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. The Goldman Sachs Group set a $79.00 target price on shares of Wayfair in a report on Friday, May 1st. Finally, Jefferies Financial Group decreased their price target on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $99.68.

Wayfair News Summary

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair is getting fresh promotional coverage around outdoor and home-decor deals, which may help reinforce consumer demand heading into the key summer selling season. Article Title
• Positive Sentiment: A local report that Wayfair plans to open a large-format store near Princeton suggests the company is still investing in omnichannel growth, which could expand brand reach and customer traffic. Article Title
• Positive Sentiment: Analyst commentary remained supportive overall, with Zacks Research keeping a Strong-Buy rating even after slightly lowering earnings estimates for 2028, which indicates the longer-term thesis is still intact despite modest forecast trimming. Article Title
• Neutral Sentiment: Additional shopping-deal articles featuring discounted patio sets, sheds, and decor are likely drawing traffic to Wayfair’s platform, but they are promotional in nature and do not materially change fundamentals on their own. Article Title
• Neutral Sentiment: An insider sale by Jon Blotner was disclosed, but it was executed under a pre-arranged 10b5-1 plan and was tied to tax withholding on equity awards, so it looks more routine than alarming. Article Title
• Negative Sentiment: Zacks Research nudged down its near- and long-term EPS estimates, adding a bit of pressure to the stock as investors continue to focus on profitability and earnings durability. Article Title
• Negative Sentiment: The insider sale can still weigh on sentiment even if it was pre-planned, since investors often view executive selling as a cautious signal when the shares have already run up. Article Title

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Assenagon Asset Management S.A. raised its holdings in Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after buying an additional 242,791 shares during the period. Versant Capital Management Inc increased its position in Wayfair by 34.5% during the second quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock valued at $315,000 after acquiring an additional 874 shares during the last quarter. Empowered Funds LLC increased its position in Wayfair by 67.7% during the first quarter. Empowered Funds LLC now owns 6,829 shares of the company’s stock valued at $514,000 after acquiring an additional 2,758 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares during the period. Finally, Atreides Management LP raised its stake in shares of Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after acquiring an additional 560,133 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.