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 Wayfair stock in a transaction 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 sale, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $53.14, for a total value 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 NYSE:W traded up $0.27 during trading on Thursday, hitting $48.02. 2,582,340 shares of the stock were exchanged, compared to its average volume of 3,709,581. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of -10.70 and a beta of 3.43. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18. The company’s fifty day simple moving average is $46.19 and its 200-day simple moving average is $47.23.

Wayfair (NYSE:W) last released 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 company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the firm posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Piper Sandler dropped their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. UBS Group lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Mizuho reduced their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Finally, Truist Financial cut their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.24.

Institutional Investors Weigh In On Wayfair

Large investors have recently made changes to their positions in the company. Tabor Asset Management LP lifted its holdings in Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after purchasing an additional 15,932 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after buying an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Wayfair in the fourth quarter valued at approximately $6,799,000. Wellington Management Group LLP raised its stake in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after acquiring an additional 201,157 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Wayfair by 32.8% in the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after acquiring an additional 32,968 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

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.