Wayfair (W) Shares Down 2.9% on Insider Selling

Wayfair Inc (NYSE:W) shares traded down 2.9% on Thursday after an insider sold shares in the company. The stock traded as low as $72.00 and last traded at $70.34. 1,499,429 shares traded hands during trading, a decline of 21% from the average session volume of 1,893,687 shares. The stock had previously closed at $72.45.

Specifically, CEO Niraj Shah sold 906 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $85.96, for a total transaction of $77,879.76. Following the sale, the chief executive officer now owns 26,701 shares in the company, valued at approximately $2,295,217.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Conine sold 2,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $93.77, for a total transaction of $187,540.00. Following the sale, the insider now owns 34,894 shares in the company, valued at approximately $3,272,010.38. The disclosure for this sale can be found here. In the last quarter, insiders purchased 13,600 shares of company stock worth $1,053,632 and sold 79,748 shares worth $7,201,014. Insiders own 56.93% of the company’s stock.

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A number of brokerages have recently commented on W. Bank of America set a $100.00 target price on shares of Wayfair and gave the company a “hold” rating in a report on Tuesday, February 20th. Wedbush restated a “buy” rating and set a $98.00 target price (up previously from $86.00) on shares of Wayfair in a report on Tuesday, February 20th. Piper Jaffray Companies restated an “overweight” rating and set a $112.00 target price (up previously from $89.00) on shares of Wayfair in a report on Thursday, February 15th. Gordon Haskett cut shares of Wayfair from a “buy” rating to an “accumulate” rating in a report on Wednesday, January 31st. Finally, Zacks Investment Research cut shares of Wayfair from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.90.

The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of -8.60. The stock has a market cap of $6,390.60, a PE ratio of -23.96 and a beta of 1.25.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.04). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Wayfair had a negative return on equity of 31,507.11% and a negative net margin of 5.18%. Wayfair’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS. sell-side analysts predict that Wayfair Inc will post -3.69 EPS for the current year.

A number of large investors have recently modified their holdings of W. Artisan Partners Limited Partnership purchased a new position in Wayfair in the 3rd quarter worth about $81,855,000. Alliancebernstein L.P. raised its position in Wayfair by 1,724.1% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,771 shares of the company’s stock worth $88,439,000 after buying an additional 1,041,371 shares during the last quarter. American Century Companies Inc. purchased a new position in Wayfair in the 4th quarter worth about $37,836,000. Bank of New York Mellon Corp raised its position in Wayfair by 331.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 583,843 shares of the company’s stock worth $39,351,000 after buying an additional 448,390 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC raised its position in Wayfair by 542.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 461,190 shares of the company’s stock worth $31,084,000 after buying an additional 389,420 shares during the last quarter. 70.84% of the stock is owned by institutional investors and hedge funds.

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Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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