Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells $1,389,900.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares in the company, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00.
• On Friday, December 20th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $45.75, for a total transaction 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 transaction of $1,594,200.00.

Wayfair Trading Down 9.0 %

W stock opened at $41.92 on Monday. Wayfair Inc. has a one year low of $37.35 and a one year high of $76.18. The firm has a market capitalization of $5.25 billion, a PE ratio of -10.43 and a beta of 3.43. The firm has a 50-day moving average of $46.22 and a two-hundred day moving average of $46.55.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

W has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group decreased their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday. Bank of America decreased their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $58.40.

Institutional Trading of Wayfair

A number of hedge funds have recently made changes to their positions in W. Creative Planning lifted its position in shares of Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after purchasing an additional 272 shares in the last quarter. International Assets Investment Management LLC raised its position in Wayfair by 3,988.6% during the third quarter. International Assets Investment Management LLC now owns 45,056 shares of the company’s stock valued at $2,531,000 after acquiring an additional 43,954 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Wayfair during the third quarter valued at approximately $304,000. Semanteon Capital Management LP bought a new position in Wayfair during the third quarter valued at approximately $277,000. Finally, Nisa Investment Advisors LLC raised its position in Wayfair by 801.5% during the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock valued at $2,385,000 after acquiring an additional 37,750 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

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.