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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the transaction, the insider now owns 602,573 shares of the company’s stock, valued at approximately $27,567,714.75. This represents a 4.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 transaction of $1,594,200.00.
• On Wednesday, November 20th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00.

Wayfair Trading Down 1.0 %

W stock traded down $0.46 during trading on Monday, reaching $45.26. The stock had a trading volume of 2,249,529 shares, compared to its average volume of 4,411,412. The stock’s 50 day moving average is $46.12 and its two-hundred day moving average is $48.52. The firm has a market cap of $5.67 billion, a PE ratio of -10.08 and a beta of 3.44. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the business posted ($1.38) EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Wayfair Inc. will post -2.91 EPS for the current year.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Wayfair during the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wayfair in the third quarter worth $44,000. Brooklyn Investment Group bought a new stake in shares of Wayfair during the 3rd quarter valued at $50,000. International Assets Investment Management LLC purchased a new position in shares of Wayfair during the 2nd quarter valued at $58,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Wayfair in the 3rd quarter worth $67,000. Institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research note on Friday, November 1st. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Mizuho lowered their price objective on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada dropped their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.28.

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.