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

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

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

• On Tuesday, January 21st, Steven Conine sold 30,000 shares of Wayfair stock. The shares were 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 shares were 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 shares were 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. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The stock’s 50 day simple moving average is $46.42 and its two-hundred day simple moving average is $46.50.

Wayfair (NYSE:W) last issued its quarterly earnings data 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 business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. As a group, sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tabor Asset Management LP raised its holdings in shares of Wayfair by 11.3% in the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after buying an additional 15,932 shares during the period. 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 worth $56,180,000 after buying an additional 500,000 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Wayfair in the fourth quarter worth approximately $6,799,000. Wellington Management Group LLP raised its holdings in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after buying an additional 201,157 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Wayfair in the third quarter worth approximately $1,070,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

W has been the subject of a number of research reports. Truist Financial cut their price target on Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird dropped their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Loop Capital dropped their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday. Citigroup dropped their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

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.