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 dated Friday, December 20th. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the completion of the transaction, the insider now owns 602,573 shares in the company, valued at $27,567,714.75. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $53.14, for a total value of $1,594,200.00.
• On Wednesday, November 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00.

Wayfair Stock Performance

Shares of W stock opened at $45.26 on Tuesday. Wayfair Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm has a market capitalization of $5.67 billion, a PE ratio of -10.08 and a beta of 3.44. The stock’s 50-day simple moving average is $45.92 and its 200-day simple moving average is $48.43.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the company posted ($1.38) EPS. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that Wayfair Inc. will post -2.91 earnings per share for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on W. BMO Capital Markets cut their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Piper Sandler reduced their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. UBS Group dropped their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Argus cut Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.