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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the sale, the insider now directly owns 632,573 shares of the company’s stock, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 Up 2.5 %

Shares of Wayfair stock traded up $1.35 during trading on Monday, reaching $54.88. The company’s stock had a trading volume of 4,326,573 shares, compared to its average volume of 4,424,165. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18. The stock has a 50-day moving average price of $46.94 and a two-hundred day moving average price of $49.14. The stock has a market capitalization of $6.88 billion, a P/E ratio of -12.20 and a beta of 3.44.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the company posted ($1.38) earnings per share. Wayfair’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Southpoint Capital Advisors LP acquired a new position in Wayfair during the 3rd quarter valued at about $78,652,000. Holocene Advisors LP grew its position in shares of Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after buying an additional 1,213,896 shares during the period. Renaissance Technologies LLC raised its stake in shares of Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares during the last quarter. Groupama Asset Managment lifted 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 period. Finally, Wolf Hill Capital Management LP boosted its stake in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on W shares. Citigroup lowered their price target on 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 lowered their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. UBS Group reduced their target price on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus lowered their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler dropped their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Company Profile

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.