Wayfair Inc. (NYSE:W – Get Free Report) insider Jon Blotner sold 6,968 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the sale, the insider directly owned 110,376 shares of the company’s stock, valued at $11,061,882.72. This trade represents a 5.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jon Blotner also recently made the following trade(s):
- On Thursday, July 2nd, Jon Blotner sold 5,925 shares of Wayfair stock. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25.
Wayfair Trading Down 2.6%
W stock traded down $2.60 during midday trading on Thursday, hitting $97.52. The company’s stock had a trading volume of 2,008,694 shares, compared to its average volume of 3,624,680. The firm’s 50-day moving average is $96.51 and its 200-day moving average is $82.46. Wayfair Inc. has a 12 month low of $55.60 and a 12 month high of $119.98. The company has a market cap of $12.87 billion, a PE ratio of -39.64, a P/E/G ratio of 3.59 and a beta of 2.99.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Truist Financial boosted their target price on Wayfair from $99.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. TD Cowen raised their price target on shares of Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Morgan Stanley reiterated an “overweight” rating on shares of Wayfair in a research note on Wednesday, August 5th. Citigroup boosted their price objective on shares of Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Robert W. Baird set a $116.00 price objective on shares of Wayfair in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $119.89.
Institutional Trading of Wayfair
Several large investors have recently modified their holdings of W. North Dakota State Investment Board purchased a new stake in Wayfair in the fourth quarter worth about $3,636,000. Assenagon Asset Management S.A. lifted its position in shares of Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after buying an additional 242,791 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Wayfair during the 4th quarter valued at about $5,648,000. Dockside LLC purchased a new position in shares of Wayfair during the 4th quarter valued at about $1,990,000. Finally, Legato Capital Management LLC bought a new position in shares of Wayfair during the 4th quarter valued at approximately $1,327,000. Institutional investors own 89.67% of the company’s stock.
About Wayfair
Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.
The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.
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