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 business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total value of $1,453,500.00. Following the completion of the sale, the insider now owns 589,073 shares of the company’s stock, valued at $28,540,586.85. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 value 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.
• 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 Stock Up 0.6 %

Wayfair stock traded up $0.27 during midday trading on Thursday, hitting $48.02. The company’s stock had a trading volume of 2,582,340 shares, compared to its average volume of 3,709,581. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The company has a market capitalization of $6.02 billion, a PE ratio of -10.70 and a beta of 3.43. The stock’s 50-day moving average price is $46.19 and its 200-day moving average price is $47.23.

Wayfair (NYSE:W) last released 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 the consensus estimate of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. As a group, equities analysts anticipate that Wayfair Inc. will post -2.91 EPS for the current year.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Tabor Asset Management LP boosted its holdings in shares of Wayfair by 11.3% in the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after buying an additional 15,932 shares during the period. Groupama Asset Managment lifted its position in shares of 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 acquiring an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Wayfair in the 4th quarter worth approximately $6,799,000. Wellington Management Group LLP grew its position in Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Wayfair by 32.8% during the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock valued at $7,035,000 after purchasing an additional 32,968 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on W. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Citigroup reduced their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Loop Capital increased their target price on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, Piper Sandler reduced their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

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.