Wayfair Inc. (NYSE:W) COO Sells $336,152.50 in Stock

Wayfair Inc. (NYSE:W) COO Thomas Netzer sold 6,625 shares of Wayfair stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Wayfair Price Performance

NYSE:W traded down $0.10 during trading hours on Wednesday, reaching $51.44. The company’s stock had a trading volume of 1,593,117 shares, compared to its average volume of 4,248,094. The company has a market cap of $6.19 billion, a price-to-earnings ratio of -9.60 and a beta of 3.43. Wayfair Inc. has a one year low of $38.37 and a one year high of $90.71. The business’s 50-day moving average is $58.69 and its 200-day moving average is $58.37.

Wayfair (NYSE:W) last released its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. On average, sell-side analysts predict that Wayfair Inc. will post -2.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on W shares. Deutsche Bank Aktiengesellschaft lifted their price target on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Sanford C. Bernstein boosted their target price on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Truist Financial boosted their target price on Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Morgan Stanley boosted their target price on Wayfair from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, TD Cowen boosted their target price on Wayfair from $55.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. WealthPlan Investment Management LLC increased its holdings in shares of 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 buying an additional 271 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Wayfair by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after buying an additional 360 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Wayfair by 2.8% during the fourth quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after buying an additional 397 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Wayfair by 12.0% during the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after buying an additional 399 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Wayfair in the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

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.