Jon Blotner Sells 19,257 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the sale, the insider now directly owns 78,308 shares in the company, valued at $2,480,797.44. The trade was a 19.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Jon Blotner also recently made the following trade(s):

• On Monday, January 13th, Jon Blotner sold 5,669 shares of Wayfair stock. The stock was sold at an average price of $42.83, for a total value of $242,803.27.
• On Monday, January 6th, Jon Blotner sold 4,521 shares of Wayfair stock. The shares were sold at an average price of $46.88, for a total value of $211,944.48.
• On Friday, January 3rd, Jon Blotner sold 4,966 shares of Wayfair stock. The shares were sold at an average price of $44.93, for a total value of $223,122.38.

Wayfair Stock Down 25.7 %

Shares of NYSE W opened at $25.05 on Friday. Wayfair Inc. has a twelve month low of $23.61 and a twelve month high of $76.18. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -6.23 and a beta of 3.72. The company’s fifty day moving average is $39.95 and its 200-day moving average is $44.87.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Trading of Wayfair

A number of large investors have recently bought and sold shares of the business. Cerity Partners LLC acquired a new position in shares of Wayfair in the third quarter valued at approximately $1,070,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair during the third quarter worth $44,000. Atom Investors LP lifted its position in Wayfair by 13.0% in the 3rd quarter. Atom Investors LP now owns 29,738 shares of the company’s stock valued at $1,671,000 after acquiring an additional 3,427 shares in the last quarter. Cinctive Capital Management LP acquired a new position in Wayfair in the 3rd quarter worth $4,464,000. Finally, Holocene Advisors LP increased its holdings in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

W has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Wayfair in a report on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Wayfair in a report on Friday, February 21st. Truist Financial dropped their price target on Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group cut their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Wedbush restated a “neutral” rating and issued a $46.00 target price (up from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Company Profile

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.