Wayfair Inc. (NYSE:W) Insider Sells $1,453,500.00 in Stock

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

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 value of $1,269,300.00.

Wayfair Stock Up 1.5 %

Shares of W opened at $48.70 on Friday. The company has a 50 day moving average of $46.58 and a two-hundred day moving average of $47.17. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -10.85 and a beta of 3.43. Wayfair Inc. has a twelve month low of $37.35 and a twelve month high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter last year, the firm earned ($1.38) earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Wayfair Inc. will post -2.91 EPS for the current year.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently modified their holdings of W. Tabor Asset Management LP boosted its stake in 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 in the last quarter. Groupama Asset Managment lifted its stake 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 during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Wayfair during the fourth quarter valued at $6,799,000. Wellington Management Group LLP increased its position in shares of Wayfair by 22.4% in the 3rd 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 period. Finally, Sei Investments Co. raised its stake in 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 during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on W. BMO Capital Markets cut 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 report on Monday, November 4th. UBS Group reduced their price objective 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. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Mizuho reduced their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a report on Monday, November 4th. Fourteen equities 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. According to data from MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average price target of $60.24.

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.