Wayfair (NYSE:W) Stock: Insider Fiona Tan Sells 7,000 Shares

Wayfair Inc. (NYSE:W) CTO Fiona Tan sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $122.73, for a total value of $859,110.00. Following the sale, the chief technology officer directly owned 181,698 shares in the company, valued at $22,299,795.54. This trade represents a 3.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, November 4th, Fiona Tan sold 8,000 shares of Wayfair stock. The shares were sold at an average price of $125.00, for a total value of $1,000,000.00.
• On Tuesday, October 20th, Fiona Tan sold 8,000 shares of Wayfair stock. The shares were sold at an average price of $115.00, for a total value of $920,000.00.
• On Thursday, October 1st, Fiona Tan sold 7,000 shares of Wayfair stock. The shares were sold at an average price of $102.18, for a total transaction of $715,260.00.

Wayfair Trading Down 1.1%

W stock opened at $112.08 on Friday. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $127.99. The company’s 50 day moving average is $105.88 and its two-hundred day moving average is $89.19. The stock has a market cap of $14.79 billion, a P/E ratio of -89.67, a PEG ratio of 3.85 and a beta of 3.10.

Wayfair (NYSE:W) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. Wayfair had a negative net margin of 1.21% and a negative return on equity of 5.14%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Wayfair Inc. will post 0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on W shares. BNP Paribas Exane lifted their target price on Wayfair from $108.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets raised their price target on Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Raymond James Financial restated a “strong-buy” rating and set a $135.00 price target on shares of Wayfair in a research note on Wednesday. Evercore reaffirmed an “outperform” rating and set a $130.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Finally, Needham & Company LLC boosted their price objective on Wayfair from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.57.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair’s third-quarter results beat estimates: earnings were $0.93 per share versus $0.80 expected, and revenue was $3.42 billion versus $3.38 billion expected. U.S. sales grew 11.4%, with improved advertising leverage and market-share gains contributing to the performance. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Analysts raised targets following the results. Notable moves included UBS to $165 with a Buy rating, Needham to $145 with a Buy rating, and Wells Fargo to $140 with an Overweight rating; Deutsche Bank lifted its target to $140 but maintained Hold. Wayfair analyst coverage
• Neutral Sentiment: CTO Fiona Tan sold 15,000 shares across November 4–5 for about $1.86 million. The sales were made under a pre-arranged Rule 10b5-1 plan, and she retained 181,698 shares, making the transactions a less direct indicator of her near-term view of the stock. SEC Form 4 filing
• Negative Sentiment: Management expects higher holiday advertising spending in the fourth quarter. Although Wayfair forecast high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin, increased marketing costs could weigh on near-term profitability. Wayfair forecasts Q4 growth and adjusted EBITDA margin

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the business. Heritage Family Offices LLP purchased a new stake in Wayfair during the 3rd quarter valued at approximately $45,000. Fortitude Family Office LLC grew its stake in shares of Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 272 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of Wayfair in the 3rd quarter valued at approximately $53,000. IFP Advisors Inc grew its stake in shares of Wayfair by 79.2% in the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after purchasing an additional 358 shares during the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new position in shares of Wayfair in the third quarter valued at approximately $82,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares.

The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets.

Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.