Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells $1,372,500.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred 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 transaction, the insider now owns 602,573 shares of the company’s stock, valued at approximately $27,567,714.75. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, December 6th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was 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 Trading Down 1.1 %

Shares of W opened at $44.75 on Thursday. Wayfair Inc. has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market capitalization of $5.61 billion, a P/E ratio of -9.97 and a beta of 3.44. The firm has a 50-day moving average price of $45.75 and a 200 day moving average price of $48.34.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned ($1.38) EPS. Equities research analysts predict that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

W has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Truist Financial lowered their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler cut their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, BMO Capital Markets reduced their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in W. 272 Capital LP boosted its stake in Wayfair by 15.7% during the third quarter. 272 Capital LP now owns 44,053 shares of the company’s stock worth $2,475,000 after buying an additional 5,965 shares during the period. Tidal Investments LLC lifted its holdings in shares of Wayfair by 18.1% in the 3rd quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock worth $1,217,000 after acquiring an additional 3,320 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Wayfair by 16.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock worth $8,283,000 after acquiring an additional 20,884 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after purchasing an additional 35,268 shares during the period. Finally, Groupama Asset Managment increased its holdings in Wayfair by 100.0% in the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after purchasing an additional 500,000 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.