Thomas Netzer Sells 6,625 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 6,625 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total transaction of $336,152.50. Following the completion of the sale, the chief operating officer now owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Thomas Netzer also recently made the following trade(s):

• On Thursday, April 4th, Thomas Netzer sold 4,255 shares of Wayfair stock. The stock was sold at an average price of $65.02, for a total transaction of $276,660.10.

Wayfair Stock Down 0.1 %

Shares of NYSE W opened at $51.49 on Friday. The company’s 50-day simple moving average is $58.67 and its 200-day simple moving average is $58.28. Wayfair Inc. has a 52-week low of $38.37 and a 52-week high of $90.71. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -9.61 and a beta of 3.43.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. Equities research analysts anticipate that Wayfair Inc. will post -2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com cut shares of Wayfair from a “hold” rating to a “sell” rating in a report on Sunday, June 23rd. Mizuho assumed coverage on shares of Wayfair in a report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price target for the company. Sanford C. Bernstein raised their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $91.00 price target (up previously from $88.00) on shares of Wayfair in a report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price target on shares of Wayfair in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

Institutional Trading of Wayfair

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Wayfair by 31.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after purchasing an additional 94,540 shares during the period. Vanguard Group Inc. boosted its position in Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the last quarter. International Assets Investment Management LLC boosted its position in Wayfair by 8,977.8% during the fourth quarter. International Assets Investment Management LLC now owns 67,993 shares of the company’s stock worth $4,195,000 after acquiring an additional 67,244 shares during the last quarter. Honeycomb Asset Management LP acquired a new position in Wayfair during the fourth quarter worth about $6,170,000. Finally, Northern Trust Corp boosted its position in Wayfair by 6.5% during the third quarter. Northern Trust Corp now owns 375,336 shares of the company’s stock worth $22,734,000 after acquiring an additional 23,022 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.