Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 30,000 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the transaction, the insider now owns 602,573 shares of the company’s stock, valued at $27,567,714.75. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Steven Conine also recently made the following trade(s):

• On Friday, December 6th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00.
• On Wednesday, November 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00.

Wayfair Price Performance

NYSE W traded down $0.46 during trading hours on Monday, reaching $45.26. 2,249,529 shares of the stock traded hands, compared to its average volume of 4,411,412. The stock has a 50 day simple moving average of $46.12 and a two-hundred day simple moving average of $48.52. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -10.08 and a beta of 3.44.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.38) EPS. On average, sell-side analysts forecast that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in Wayfair by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock worth $15,319,000 after acquiring an additional 31,576 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Wayfair by 23.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock worth $33,549,000 after purchasing an additional 121,792 shares during the last quarter. BloombergSen Inc. increased its stake in shares of Wayfair by 12.5% in the second quarter. BloombergSen Inc. now owns 16,592 shares of the company’s stock worth $875,000 after buying an additional 1,841 shares during the period. International Assets Investment Management LLC purchased a new stake in Wayfair during the 2nd quarter valued at $58,000. Finally, Commonwealth Equity Services LLC grew its holdings in Wayfair by 38.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,221 shares of the company’s stock worth $539,000 after acquiring an additional 2,825 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on W. Citigroup decreased their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. BMO Capital Markets lowered their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Truist Financial cut their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Mizuho lowered their price target on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Robert W. Baird cut their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

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.