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 stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares in the company, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wayfair Stock Up 3.3 %

W stock traded up $1.40 during midday trading on Friday, reaching $44.03. The stock had a trading volume of 3,969,335 shares, compared to its average volume of 4,441,767. The business has a fifty day simple moving average of $47.93 and a two-hundred day simple moving average of $51.02. The firm has a market cap of $5.52 billion, a price-to-earnings 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 announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.38) earnings per share. On average, equities analysts predict that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. The Goldman Sachs Group lowered their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets lowered their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Guggenheim restated a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. Finally, Loop Capital lifted their price target on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.28.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently modified their holdings of W. WealthPlan Investment Management LLC grew its position in shares of Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after purchasing an additional 271 shares during the period. Creative Planning grew its position in shares of Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Wayfair in the 3rd quarter valued at approximately $29,000. Optimist Retirement Group LLC grew its position in shares of Wayfair by 14.9% in the 2nd quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after purchasing an additional 568 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Wayfair by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock valued at $381,000 after acquiring an additional 788 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.