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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00. Following the sale, the insider now owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 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.
• 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 Performance

Shares of W stock opened at $48.02 on Friday. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18. The firm has a fifty day simple moving average of $46.19 and a 200-day simple moving average of $47.23.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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. During the same period in the previous year, the company earned ($1.38) earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada cut their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Piper Sandler dropped their target price on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Mizuho decreased their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets dropped their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently bought and sold shares of the business. Tabor Asset Management LP increased its position in shares of Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after purchasing an additional 15,932 shares during the last quarter. Groupama Asset Managment increased its holdings in Wayfair by 100.0% in the third 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 during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Wayfair during the fourth quarter valued at approximately $6,799,000. Wellington Management Group LLP lifted its holdings 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 buying an additional 201,157 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Wayfair by 32.8% during the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after buying an additional 32,968 shares during the last quarter. Institutional investors and hedge funds 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.