Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells $1,594,200.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was 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 $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Price Performance

W opened at $54.93 on Thursday. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm’s fifty day moving average price is $46.98 and its two-hundred day moving average price is $49.09. The company has a market capitalization of $6.88 billion, a P/E ratio of -12.23 and a beta of 3.44.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate 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. During the same quarter in the prior year, the firm posted ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in the company. 272 Capital LP boosted its stake in shares of Wayfair by 15.7% in the 3rd quarter. 272 Capital LP now owns 44,053 shares of the company’s stock valued at $2,475,000 after purchasing an additional 5,965 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Wayfair by 18.1% in the third quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after buying an additional 3,320 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Wayfair by 16.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock valued at $8,283,000 after buying an additional 20,884 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Wayfair by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after buying an additional 35,268 shares during the last quarter. Finally, Groupama Asset Managment raised its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada cut their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Wedbush cut their price objective on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 price objective on shares of Wayfair in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair 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.