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 Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the sale, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wayfair Stock Up 3.3 %

Shares of NYSE:W opened at $44.03 on Friday. The firm’s 50 day moving average price is $47.86 and its 200-day moving average price is $50.85. The stock has a market capitalization of $5.52 billion, a PE ratio of -9.81 and a beta of 3.46. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) EPS. Analysts expect that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky boosted its position in shares of Wayfair by 16.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock worth $8,283,000 after purchasing an additional 20,884 shares during the period. Geode Capital Management LLC grew its stake in shares of Wayfair by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after buying an additional 35,268 shares in the last quarter. Groupama Asset Managment raised its position in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Wayfair during the 3rd quarter valued at about $4,418,000. Finally, XTX Topco Ltd bought a new position in shares of Wayfair in the 3rd quarter valued at about $557,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird cut their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Argus cut Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Citigroup dropped their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Barclays reduced their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.