BOSTON— Wayfair Inc . (NYSE:W) Chief Operating Officer Thomas Netzer reported the sale of 1,039 shares of the company's Class A common stock. The shares were sold on December 17, 2024, at a weighted average price of $50.65, amounting to a total transaction value of $52,625. The transaction comes as Wayfair's stock, currently trading at $45.45, has experienced an 8.2% decline over the past week, according to InvestingPro data.
These transactions were executed as part of Wayfair's policies to cover tax withholding obligations related to the vesting of Restricted Stock Units on December 16, 2024. The sales were not discretionary trades by Netzer, according to the company's filing.
Following this transaction, Netzer retains direct ownership of 171,790 shares in the company.
In other recent news, Wayfair's earnings and revenue results have drawn attention from various analyst firms. Loop Capital recently increased their price target for Wayfair from $50 to $55, while maintaining a Hold rating. This adjustment was made despite a decrease in the firm's forecast for Wayfair's fiscal year 2025 adjusted EBITDA. Meanwhile, Bernstein maintained a Market Perform rating on Wayfair shares, following the company's third-quarter revenue performance, which showed a slight decline of 2% year-over-year to $11.84 billion.
KeyBanc Capital Markets also kept its Sector Weight rating on Wayfair, recognizing the company's ability to enhance EBITDA and gain market share amidst industry challenges. Wayfair's management has committed to achieving growth in adjusted EBITDA dollars by 2025, but has not made promises regarding an increase in margin rates. The company also plans to increase advertising expenses to between 12-13% of revenue.
In other company news, Wayfair secured $800 million at a 7.25% interest rate in the private debt market. These developments reflect recent happenings in Wayfair's business operations. The company's fourth-quarter guidance anticipates a low single-digit year-over-year decline, while projecting adjusted EBITDA margins between 2-4%. Analysts, including those from Loop Capital and Bernstein, predict profitability for Wayfair this year despite recent challenges.
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