Wayfair Inc. (NYSE:W) Insider Steven Conine Sells 30,000 Shares

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

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

• On Tuesday, January 21st, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00.
• 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 stock was sold at an average price of $53.14, for a total value of $1,594,200.00.

Wayfair Stock Performance

Shares of W stock opened at $41.92 on Friday. The business has a fifty day moving average of $46.42 and a 200 day moving average of $46.50. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18.

Wayfair (NYSE:W) last issued its earnings results 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 company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. Equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Loop Capital dropped their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday. Mizuho dropped their price objective on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Canaccord Genuity Group dropped their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America dropped their target price on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. 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. According to MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $58.80.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in W. True Wealth Design LLC raised its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after acquiring an additional 381 shares during the last quarter. J.Safra Asset Management Corp raised its stake in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Wayfair during the 3rd quarter valued at about $29,000. Finally, GAMMA Investing LLC raised its stake in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.