Insider Selling: Wayfair (NYSE:W) Insider Sells 93,050 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 93,050 shares of Wayfair stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $74.63, for a total transaction of $6,944,321.50. Following the sale, the insider directly owned 196,023 shares in the company, valued at $14,629,196.49. The trade was a 32.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, January 23rd, Steven Conine sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00.
• On Friday, December 26th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $102.33, for a total transaction of $3,069,900.00.
• 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 value of $12,033,600.00.

Wayfair Stock Up 2.5%

Shares of NYSE:W traded up $1.85 during midday trading on Wednesday, reaching $75.76. The company’s stock had a trading volume of 3,944,166 shares, compared to its average volume of 3,821,263. The firm has a 50 day moving average of $100.63 and a 200-day moving average of $93.78. The firm has a market capitalization of $9.88 billion, a P/E ratio of -31.18, a PEG ratio of 6.97 and a beta of 3.36. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $119.98.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on W. Piper Sandler reissued an “overweight” rating and issued a $125.00 price target on shares of Wayfair in a research report on Friday, February 20th. Argus boosted their target price on Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays increased their target price on Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Guggenheim lifted their price target on Wayfair from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, UBS Group reissued a “buy” rating on shares of Wayfair in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average target price of $105.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of W. Cornerstone Planning Group LLC increased its stake in shares of Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares in the last quarter. True Wealth Design LLC grew its holdings in Wayfair by 250.5% during the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares during the period. Global Retirement Partners LLC increased its position in Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Webster Bank N. A. bought a new position in shares of Wayfair in the fourth quarter worth about $30,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Wayfair during the 4th quarter valued at about $33,000. 89.67% of the stock is owned by institutional investors.

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.