Jon Blotner Sells 4,801 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 4,801 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total value of $244,610.95. Following the completion of the sale, the insider now owns 53,152 shares in the company, valued at approximately $2,708,094.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, April 15th, Jon Blotner sold 4,144 shares of Wayfair stock. The stock was sold at an average price of $60.52, for a total value of $250,794.88.
• On Thursday, April 4th, Jon Blotner sold 3,022 shares of Wayfair stock. The shares were sold at an average price of $64.94, for a total value of $196,248.68.

Wayfair Stock Down 0.1 %

Shares of Wayfair stock opened at $51.49 on Friday. Wayfair Inc. has a 52 week low of $38.37 and a 52 week high of $90.71. The business has a 50 day moving average price of $58.67 and a 200-day moving average price of $58.28. The company has a market cap of $6.20 billion, a PE ratio of -9.61 and a beta of 3.43.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. As a group, research analysts anticipate that Wayfair Inc. will post -2.94 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in W. WealthPlan Investment Management LLC lifted its holdings in Wayfair by 5.6% during the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after acquiring an additional 271 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after purchasing an additional 360 shares during the period. Amalgamated Bank raised its stake in shares of Wayfair by 2.8% during the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after purchasing an additional 397 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Wayfair by 12.0% in the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after buying an additional 399 shares during the last quarter. Finally, Riverview Trust Co bought a new position in Wayfair during the first quarter valued at about $27,000. 89.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

W has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of Wayfair from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Wedbush restated an “outperform” rating and issued a $70.00 target price on shares of Wayfair in a report on Friday, May 3rd. Loop Capital decreased their price target on Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a report on Friday, June 21st. Truist Financial boosted their price objective on Wayfair from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.50.

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.