Wayfair Inc. (NYSE:W) CTO Sells $760,813.20 in Stock

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 23,835 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares of the company’s stock, valued at $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Fiona Tan also recently made the following trade(s):

• On Monday, January 6th, Fiona Tan sold 7,581 shares of Wayfair stock. The shares were sold at an average price of $47.17, for a total value of $357,595.77.
• On Friday, January 3rd, Fiona Tan sold 8,249 shares of Wayfair stock. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59.

Wayfair Stock Performance

Shares of W opened at $25.95 on Friday. The business’s 50-day moving average is $39.50 and its two-hundred day moving average is $44.72. The company has a market capitalization of $3.29 billion, a P/E ratio of -6.46 and a beta of 3.72. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $76.18.

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

Wall Street Analyst Weigh In

W has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada cut their price target on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Canaccord Genuity Group decreased their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Bank of America cut their target price on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Loop Capital decreased their price target on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Hold” and a consensus price target of $54.84.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its position in Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after buying an additional 383 shares during the period. Employees Retirement System of Texas boosted its stake in shares of Wayfair by 28.5% during the 4th quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock worth $1,563,000 after acquiring an additional 7,813 shares in the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Wayfair by 142.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company’s stock valued at $6,721,000 after purchasing an additional 89,053 shares in the last quarter. Toronto Dominion Bank acquired a new position in Wayfair in the 4th quarter worth about $1,536,000. Finally, Neo Ivy Capital Management purchased a new position in Wayfair during the fourth quarter worth approximately $3,560,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.