Insider Selling: Wayfair (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 dated Friday, December 26th. The stock was sold at an average price of $102.33, for a total transaction of $3,069,900.00. Following the sale, the insider owned 439,073 shares in the company, valued at $44,930,340.09. The trade was a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, December 23rd, Steven Conine sold 120,000 shares of Wayfair stock. The shares were sold at an average price of $100.28, for a total transaction of $12,033,600.00.
• On Monday, November 24th, Steven Conine sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00.
• On Tuesday, October 28th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $105.09, for a total transaction of $3,152,700.00.
• On Thursday, October 23rd, Steven Conine sold 120,000 shares of Wayfair stock. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00.
• On Monday, October 20th, Steven Conine sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $82.85, for a total value of $7,042,250.00.

Wayfair Stock Down 0.3%

Shares of W traded down $0.26 during midday trading on Monday, hitting $101.96. The company’s stock had a trading volume of 1,433,838 shares, compared to its average volume of 4,564,407. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of -39.83 and a beta of 3.25. The company’s fifty day simple moving average is $99.96 and its two-hundred day simple moving average is $81.17.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.26. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of W. AQR Capital Management LLC lifted its holdings in Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after buying an additional 276,471 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Wayfair in the 2nd quarter worth about $1,512,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Wayfair in the 1st quarter valued at about $452,000. Hook Mill Capital Partners LP acquired a new position in shares of Wayfair in the 2nd quarter valued at about $39,965,000. Finally, Bosun Asset Management LLC bought a new stake in shares of Wayfair during the 2nd quarter valued at about $690,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on W. Truist Financial raised their target price on shares of Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Evercore ISI increased their price target on Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. BMO Capital Markets set a $110.00 target price on Wayfair and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group cut Wayfair from a “buy” rating to a “hold” rating and set a $94.00 price target on the stock. in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $105.29.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.