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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 approximately $25,901,852.09. The trade was a 5.09 % decrease in their position. The sale was disclosed in a filing 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 stock was 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 stock was 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 stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00.

Wayfair Trading Down 9.0 %

Wayfair stock traded down $4.15 during midday trading on Friday, hitting $41.92. The stock had a trading volume of 5,676,740 shares, compared to its average volume of 3,753,029. The firm’s fifty day moving average is $46.42 and its two-hundred day moving average is $46.50. The company has a market capitalization of $5.25 billion, a PE ratio of -9.34 and a beta of 3.43. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities research analysts predict that Wayfair Inc. will post -2.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. J.Safra Asset Management Corp grew its holdings in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Creative Planning grew its holdings in Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after buying an additional 272 shares in the last quarter. GAMMA Investing LLC grew its holdings in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares in the last quarter. True Wealth Design LLC grew its holdings in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets upped their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday. Robert W. Baird lowered their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada lowered their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Fourteen equities research 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’s stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.72.

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.