Jon Blotner Sells 5,925 Shares of Wayfair (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares of the company’s stock, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wayfair Stock Up 0.2%

W opened at $93.37 on Wednesday. The firm has a 50-day moving average price of $75.49 and a 200-day moving average price of $84.22. Wayfair Inc. has a twelve month low of $53.07 and a twelve month high of $119.98. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of -39.90, a PEG ratio of 4.90 and a beta of 2.96.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. Wayfair’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, sell-side analysts expect that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair was added to Zacks Rank #1 (Strong Buy) and highlighted in multiple “momentum” and “bargain” screens, which suggests improving earnings expectations and technical strength. New Strong Buy Stocks for July 6th
• Positive Sentiment: Zacks also upgraded Wayfair (W) to Strong Buy, reinforcing optimism that earnings trends could support further upside. Wayfair Rating Upgrade to Strong Buy
• Positive Sentiment: Another Zacks note pointed to broker rating upgrades and upbeat earnings expectations as reasons investors may be rotating into W. 3 Stocks to Buy as Broker Ratings Upgrade Signals Growth Potential
• Neutral Sentiment: Wayfair was also mentioned in a consumer-facing shopping article promoting discounted home decor, which is more promotional than stock-moving but keeps the brand in front of shoppers. This 6-piece outdoor dining set looks designer-worthy…
• Negative Sentiment: An insider filing showed Jon Blotner sold 5,925 shares, though the company said the sale was pre-planned and tied to tax withholding on equity vesting, limiting the negative signal. Wayfair Insider Jon Blotner Sells 5,925 Shares of Stock
• Negative Sentiment: A Seeking Alpha article argued that Wayfair’s profits are adjusted while losses remain real, which could weigh on sentiment by focusing attention on profitability concerns. Wayfair: The Profits Are Adjusted – The Losses Are Real
• Negative Sentiment: Health Canada issued a recall notice for a banned baby item sold on Amazon and Wayfair, creating a small reputational headwind. Health Canada issued a product recall notice…

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently modified their holdings of the business. Optas LLC grew its holdings in shares of Wayfair by 2.1% during the fourth quarter. Optas LLC now owns 5,057 shares of the company’s stock worth $508,000 after purchasing an additional 106 shares in the last quarter. Larson Financial Group LLC raised its stake in Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after purchasing an additional 120 shares in the last quarter. Wedmont Private Capital raised its stake in Wayfair by 3.3% in the fourth quarter. Wedmont Private Capital now owns 3,774 shares of the company’s stock valued at $415,000 after purchasing an additional 121 shares in the last quarter. True Wealth Design LLC lifted its position in Wayfair by 37.7% during the fourth quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after purchasing an additional 123 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Wayfair by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock valued at $544,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

W has been the subject of several recent research reports. Canaccord Genuity Group reduced their price target on Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Benchmark assumed coverage on Wayfair in a research note on Tuesday. They issued a “hold” rating for the company. Needham & Company LLC reduced their target price on Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada decreased their price target on Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 30th. Finally, Truist Financial set a $99.00 price target on shares of Wayfair in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.68.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.