Insider Selling: Wayfair Inc. (NYSE:W) Director Sells 397 Shares of Stock

Wayfair Inc. (NYSE:W) Director Anke Schaferkordt sold 397 shares of Wayfair stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $40.92, for a total transaction of $16,245.24. Following the completion of the transaction, the director now directly owns 12,434 shares in the company, valued at $508,799.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wayfair Stock Performance

Shares of Wayfair stock traded up $2.44 during midday trading on Tuesday, reaching $44.37. 5,696,501 shares of the company’s stock traded hands, compared to its average volume of 4,366,690. Wayfair Inc. has a 52 week low of $38.02 and a 52 week high of $76.18. The company’s 50 day simple moving average is $48.65 and its 200 day simple moving average is $52.20. The company has a market cap of $5.48 billion, a price-to-earnings ratio of -9.88 and a beta of 3.46.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the company earned ($1.38) earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Wayfair Inc. will post -2.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research report on Friday. Royal Bank of Canada reduced their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday. UBS Group cut their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Gordon Haskett downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Wayfair in the first quarter worth $937,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after buying an additional 119,415 shares during the period. Sei Investments Co. grew its stake in Wayfair by 14.6% in the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after buying an additional 12,809 shares during the last quarter. Finally, Highland Peak Capital LLC bought a new position in Wayfair in the 2nd quarter worth $5,165,000. 89.67% of the stock is owned by 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.