Wayfair Inc. (NYSE:W) Insider Sells $1,269,300.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wayfair Stock Performance

NYSE W opened at $44.03 on Friday. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18. The company has a fifty day moving average of $47.86 and a 200-day moving average of $50.85. The company has a market capitalization of $5.52 billion, a P/E ratio of -9.81 and a beta of 3.46.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business earned ($1.38) EPS. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts forecast that Wayfair Inc. will post -2.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on W shares. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. Truist Financial reduced their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Loop Capital boosted their target price on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Royal Bank of Canada reduced their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Finally, UBS Group decreased their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. WealthPlan Investment Management LLC raised its holdings in Wayfair by 5.6% in 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 during the last quarter. Creative Planning lifted its position in Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after acquiring an additional 272 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Wayfair in the 3rd quarter valued at approximately $29,000. Optimist Retirement Group LLC boosted its stake in Wayfair by 14.9% during the 2nd quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after purchasing an additional 568 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Wayfair by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after purchasing an additional 788 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

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.