Steven Conine Sells 30,000 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, January 21st, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00.
• On Friday, December 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $45.75, for a total transaction of $1,372,500.00.
• 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.

Wayfair Trading Down 9.0 %

Wayfair stock opened at $41.92 on Friday. The company has a market cap of $5.25 billion, a P/E ratio of -10.43 and a beta of 3.43. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18. The company has a fifty day simple moving average of $46.22 and a 200 day simple moving average of $46.51.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. On average, equities research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

W has been the topic of several analyst reports. Royal Bank of Canada cut their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Raymond James set a $60.00 target price on shares of Wayfair and gave the company a “strong-buy” rating in a research note on Friday. Wedbush reaffirmed a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research note on Friday. Finally, Bank of America lowered their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.40.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in W. Creative Planning grew its position in Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares in the last quarter. International Assets Investment Management LLC grew its position in Wayfair by 3,988.6% in the third quarter. International Assets Investment Management LLC now owns 45,056 shares of the company’s stock valued at $2,531,000 after purchasing an additional 43,954 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Wayfair in the third quarter valued at $304,000. Semanteon Capital Management LP acquired a new stake in Wayfair in the third quarter valued at $277,000. Finally, Nisa Investment Advisors LLC lifted its stake in Wayfair by 801.5% in the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock valued at $2,385,000 after acquiring an additional 37,750 shares during the last quarter. Institutional investors 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.