Wayfair Inc. (NYSE:W) Insider Sells $1,389,900.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, January 21st, Steven Conine sold 30,000 shares of Wayfair stock. The shares were 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 shares were 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.

Wayfair Stock Performance

Shares of NYSE W traded down $4.15 during mid-day 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. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The business has a 50 day moving average price of $46.42 and a two-hundred day moving average price of $46.50. The firm has a market cap of $5.25 billion, a P/E ratio of -9.34 and a beta of 3.43.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts predict that Wayfair Inc. will post -2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on W shares. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Truist Financial dropped their target price on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird dropped their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group dropped their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America dropped their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday. Fourteen 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 company’s stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $58.72.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in W. Southpoint Capital Advisors LP purchased a new stake in shares of Wayfair in the 3rd quarter worth about $78,652,000. Holocene Advisors LP grew its position in shares of Wayfair by 5,699.8% in 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. Capital World Investors grew its position in shares of Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock worth $598,596,000 after buying an additional 782,757 shares during the period. Baillie Gifford & Co. grew its position in shares of Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after buying an additional 740,641 shares during the period. Finally, Norges Bank purchased a new stake in shares of Wayfair in the 4th quarter worth about $31,472,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.